Document:

EX-10.21

   

  Exhibit 10.21

   

   

   

   

   

   

  Personal and Confidential

   

  December 6, 2021 

   

  Dear John Reilly:

  As you know, Talkspace, Inc. (the “Company”) recently announced changes to its

  management team. You are a valued member of our team, and in order to ensure your continued dedication during this time of transition, you are being offered the opportunity to receive a cash payment in the amount of $200,000 (the “Retention Bonus”), if you agree to the terms and conditions contained in this letter agreement (this “Agreement”), which shall be effective upon your execution.

   

  1.Retention Bonus Payment. Subject to the terms of this Agreement and your execution of this Agreement, the Company will pay you the Retention Bonus in two equal installments as follows: (i) 50% on the first Company payroll date following the last day of the 2nd quarter of the fiscal year ending December 31, 2022, and (ii) 50% on the first Company payroll date following the last day of the 3rd quarter of the fiscal year ending December 31, 2022 (each, an “Installment Payment”). In order to receive any Installment Payment, you must be employed by the Company on the date such Installment Payment is paid. No Installment Payment shall be earned until actually paid to you. For the second Installment Payment paid at the end of 3rd quarter, the payment will be contingent on your continuing employment with the Company up and until December 31, 2022. If you resign your position or are terminated “for cause” on or before December 31, 2022, the Company retains the sole option to seek repayment of the second Installment Payment in full.

   

  2.Confidentiality of this Agreement. You must keep the terms and conditions of this Agreement strictly confidential, except for disclosures to your immediate family and any tax, legal or other counsel that you have consulted regarding this Agreement, whom you will instruct not to disclose the same, and disclosures specifically authorized or required by law.

   

  3.Withholding Taxes. The Company may withhold from each Installment Payment such federal, state, and local taxes as the Company determines in its sole discretion may be required to be withheld pursuant to any applicable law or regulation.

   

  4.No Right to Continued E m ploym ent. Nothing in this Agreem ent will confer upon you any right to continued employment with the Company (or its affiliates or their respective successors) or to interfere in any way with the right of the Company (or its affiliates or their respective successors) to terminate your employment at any time, without notice, and for any or no reason.

   

   

  

   

  5.Other Benefits. The Retention Bonus is a special payment to you and will not be taken into account in computing the amount of salary or compensation for purposes of determining

   

  any bonus, incentive, pension, severance, retirement, death or other benefit under any other bonus, incentive, pension, retirement, insurance or other employee benefit plan of the Company or its affiliates, unless such plan or agreement expressly provides otherwise.

   

  6.Governing Law. This Agreement will be governed by, and construed under and in accordance with, the internal laws of the State of Delaware, without reference to rules relating to conflicts of laws.

   

  7.Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

   

  8.Entire Agreement; Amendment. This Agreement constitutes the entire agreement between you and the Company with respect to the Retention Bonus and supersedes any and all prior agreements or understandings between you and the Company with respect to the Retention Bonus, whether written or oral. This Agreement may be amended or modified only by a written instrument executed by you and the Company.

   

  9.Section 409A Compliance. Although the Company does not guarantee the tax treatment of the Retention Bonus, the intent of the parties is that the Retention Bonus be exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and accordingly, to the maximum extent permitted, this Agreement shall be interpreted in a manner consistent therewith.

   

  10.Administration. The Company shall have full power and authority to construe and interpret this Agreement, and any interpretation by the Company shall be binding on you and your representatives and shall be accorded the maximum deference permitted by law.

   

  [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK]

   

   

  

   

  Best,

  /s/ Douglas Braunstein

  Douglas Braunstein, Interim CEO

   

  I confirm my receipt, understanding and agreement with the terms of this Agreement:

   

   

     /s/ John Reilly

  Employee Name (Printed):

  John Reilly

   

   

   

   

   

   

   

  Signature Page to AgreementDocument

    

September 20, 2021

Sandra Rogers
4422 N. 75th St. Unit 2005
Scottsdale, AZ 85251

Dear Sandra:

Re:    U.S. Silica Board of Directors
On behalf of U.S. Silica Holdings, Inc. (the “Company”), I am pleased to invite you to become a member of the Company’s Board of Directors (the “Board”), effective October 1, 2021.  We believe that your skills, expertise and knowledge will prove very helpful to the Company and our stockholders as we strive to deliver best in class returns while balancing the needs of all our stakeholders. In addition to your normal Board duties, we invite you to also serve as a member of the Audit Committee and Nominating & Governance Committee of the Board.
To facilitate your onboarding, please complete, sign and return the following enclosed documents:
•Section 16 Power of Attorney
•Indemnification Agreement
For your reference, we have also enclosed copies of the 2020 Form 10-K, the 2021 Proxy Statement, the 2021 Board calendar, and the current draft of the 8-K announcing your appointment.  In the next week we will be sending you a draft of the press release that will accompany the 8-K.
In connection with your service as a director, you will be eligible for equity awards under the Company’s Amended and Restated 2011 Incentive Compensation Plan. Upon the commencement of your service on the Board, you will receive the 2021 director equity award of restricted stock units with a fair market value of $120,000, pro-rated to reflect the time you will serve on the Board between the date of your execution of this letter and the vesting of the award on May 13, 2022. The number of restricted stock units to be granted to you will be determined by dividing the value of the grant by the average closing price of a share of the Company’s common stock on the New York Stock Exchange over the thirty (30) trading days immediately preceding the grant date. Future annual equity grants will be determined by the Board based on the recommendation of the Compensation Committee of the Board.  In addition to equity compensation, you will be entitled to receive cash compensation of (1) an Annual Retainer of $75,000, payable in quarterly installments, for your service as a director, (2) an Annual Retainer of $10,000, payable in quarterly installments, for your service as a member of the Audit Committee, and (3) an Annual Retainer of $10,000, payable in quarterly installments, for your service as a member of the Nominating & Governance Committee.  You will be reimbursed for reasonable out-of-pocket expenses incurred in connection with your services to the Company in accordance with the Company’s established policies.  Further, you will be covered by the Company’s D&O insurance and given an opportunity to execute the Company’s standard director indemnification agreement.
The Board and its committees will meet at least quarterly. It is our expectation that you will participate in those meetings in person to the extent possible. We also ask that you make yourself available to participate in various telephonic meetings from time to time. 
Your services on the Board will be in accordance with, and subject to, the Company’s Bylaws and Certificate of Incorporation, as such may be amended from time to time. By accepting this offer, you represent to us that (1) you do not know of any conflict that would restrict you from becoming a director of the Company and (2) you will not provide the Company with any documents, records or other confidential information belonging to any other parties.
To accept this offer, please sign below and return the fully executed letter to us. You should keep one copy of this letter for your own records. This letter sets forth the terms of your service with the Company and supersedes any prior representations or agreements, whether written or oral. This letter 
24275 Katy Freeway, Suite 600, Katy, TX 77494

phone   (281) 258-2170 

may not be modified or amended except by a written agreement, signed by a duly authorized representative of the Company and by you. 
I look forward to receiving your acceptance and I am very excited to have you join our Board.  We are looking forward to seeing you in Texas for our Board meeting on November 10-11th. 
			
	 
	Sincerely,
	
	U.S. Silica Holdings, Inc.
	
	/s/ Bryan Shinn
	Bryan A. Shinn
	Chief Executive Officer

 
			
	
	Accepted and agreed to this 21st day of September, 2021

	
	/s/ Sandra Rogers
	Sandra Rogers

Enclosures

cc:    Charles Shaver, Chairman of the Board
    Peter Bernard, Chairman of the Nominating & Corporate Governance Committee
    Stacy Russell, Senior Vice President, General Counsel & Corporate SecretaryExhibit 10.1

 

Kyndryl Annual
Incentive Plan for Executives

 

Effective January 1, 2022

 

		1.	Purpose

 

The purpose of this Kyndryl Annual Incentive Plan for Executives (the
 “Plan”) is to promote the long-term value and success of Kyndryl Holdings, Inc. (“Kyndryl”) and its affiliates
and subsidiaries (together with Kyndryl, the “Company”) by attracting and retaining highly qualified executives and motivating
them to perform to the best of their abilities to advance the Company’s objectives and strategy.

 

		2.	Eligibility

 

The Compensation Committee of Kyndryl’s Board of Directors (the
 “Committee”), in its sole discretion, will select and designate the employees of the Company eligible to participate in the
Plan (each, a “Participant”) for all or a portion of a specified performance period. An employee who is a participant for
a specified performance period is not guaranteed or assured of being selected for participation in a subsequent performance period. A
performance period may be a fiscal year including, without limitation, the short fiscal year from January 1, 2022, through March 31,
2022.

 

		3.	Determination of Incentive Formula and/or Target Award

 

The Committee, in its sole discretion, will determine the terms, conditions,
performance criteria, and applicable incentive formulas for cash incentive awards (“Awards”) granted to Participants under
the Plan. The Awards may be established as a target, where the amount of a Participant’s target Award is based on that Participant’s
salary as of a particular date, a fixed dollar amount, or as otherwise determined by the Committee in its sole discretion.

 

The incentive formulas and additional terms and conditions applicable
to the Award may be set forth in documentation that (a) is not inconsistent with the terms and conditions of this Plan, (b) references
this Plan and (c) is approved by the appropriate officers of the Company. Such documentation may include, without limitation, an
internal Company website maintained by Kyndryl’s HR function for this purpose.

 

		4.	Determination of Performance Criteria

 

The Committee, in its sole discretion, will determine the performance
criteria applicable to any Award, which may include, without limitation:

 

		•	measures of individual performance,

 

		•	financial or non-financial performance,

 

		•	customer or client engagement, and

 

		•	human capital goals,

 

    	Kyndryl Annual Incentive Plan for Executives	1

     

    

 

such as the achievement of specific business objectives; cash flow
or cash position; earnings (which may include earnings before interest, tax, depreciation and amortization (“EBITDA”), adjusted
EBITDA, EBITDA and adjusted EBITDA lifetime value, earnings before interest and taxes, earnings before taxes and net earnings, and other
metrics); earnings per share; sustainability; achievement of ESG goals; expenses; gross margin; growth in stockholder value; internal
rate of return; market share; net income; net profit; net sales; operating cash flow; operating expenses; operating income; operating
margin; overhead or other expense reduction; productivity; profit; return on assets; return on capital; return on equity; return on investment;
return on sales; stock price; total stockholder return; revenue; contract awards; customer satisfaction, renewals or retention rates;
net promoter score; business divestitures or acquisitions; increases in specified indices; the attainment of growth rates; diversity and
inclusion; employee engagement; and any other measures of performance. The goals and performance factors may be established on any basis
the Committee determines relevant, in its sole discretion, and may be established on an individual, divisional, business unit or enterprise
basis. The performance goals may differ from Participant to Participant and from award to award.

  

		5.	Discretion to Change the Incentive Formula for Award

 

The incentive formula with respect to an Award is subject to change
at any time during the fiscal year and up to the date of payment. Notwithstanding any contrary provision of the Plan, the Committee may,
in its sole discretion and at any time up to the date of payment, increase, reduce or eliminate a Participant’s Award. The Award
may be below, at or above the target award, in the Committee’s sole discretion. The Committee, in its sole discretion, may determine
the amount of any increase or reduction based on such factors as it deems relevant and will not be required to establish any allocation
or weighting with respect to the factors it considers.

 

		6.	Payment of Award

 

An amount payable pursuant to an Award shall be paid at such time or
times as determined by the Committee but in no event later than the fifteenth day of the third month following (a) the end of the
performance period or (b) if later, the date the Award has been earned and is no longer subject to a substantial risk of forfeiture.
Unless otherwise determined by the Committee or as required by applicable law, to earn an Award, a Participant must be actively employed
by the Company on the last day of the performance period.

 

		7.	Clawback

 

Amounts payable under the Plan will be incentive compensation under
the terms of and subject to Kyndryl Clawback Policy.

 

    	Kyndryl Annual Incentive Plan for Executives	2

     

    

 

		8.	Taxes and Withholding, Section 409A

  

Payments under the Plan are subject to applicable income taxes and
employment taxes, as determined by the Company in its discretion. It is intended that amounts under the Plan be exempt from the application
of, or otherwise comply with, Section 409A of the Internal Revenue Code (“Section 409A”), and all provisions of
the Plan shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A.
For purposes of Section 409A, each of the payments that may be made under the Plan is designated as a separate payment.

 

		9.	Plan Administration

 

The Plan will be administered by the Committee. The Committee will
have all powers and discretion necessary or appropriate to administer the Plan, including, without limitation, the discretionary authority
to: determine which employees will be granted Awards; prescribe the terms and conditions of awards; interpret the Plan and the Awards;
adopt such procedures and subplans as are necessary or appropriate to permit participation in the Plan by employees who are foreign nationals
or employed outside of the United States; adopt rules for the administration, interpretation and application of the Plan; and interpret,
amend or revoke any such rules.

 

The Committee, in its sole discretion and on such terms and conditions
as it may provide, may delegate all or part of its authority and powers under the Plan to one or more directors and/or officers of the
Company. Except to the extent specifically reserved by the Committee, the appropriate directors and/or officers of the Company shall have
all of the authorities and powers reserved to the Committee under the Plan with respect to approving participation and Awards for Participants
other than the officers of the Company subject to Section 16 of the Securities Exchange Act of 1934.

 

The Company’s HR function shall be responsible for the ministerial
administration of the Plan (for example, payment of approved awards).

 

All determinations and decisions made by the Committee, Kyndryl’s
Board of Directors or its members, the Company’s officers, and any of their respective delegates pursuant to the provisions of the
Plan will be final, conclusive, and binding on all persons, and will be given the maximum deference permitted by law.

 

		10.	Unfunded Bonus Program

 

The Plan is intended to be a “bonus program” as defined
under U.S. Department of Labor Regulation 2510.3-2(c) and will be construed and administered in accordance with such intention. The
Plan is an unfunded plan. Participants are and shall be general creditors of the Company with respect to any Awards granted under the
Plan, if any.

 

    	Kyndryl Annual Incentive Plan for Executives	3

     

    

 

		11.	Venue

 

Any action or proceeding with respect to a Participant’s benefit
under the Plan shall be brought exclusively in the state and federal courts sitting in New York County or Westchester County, New York.
By participating in the Plan, Participants agree to the personal jurisdiction thereof, and irrevocably waive any objection to the venue
of such action, including any objection that the action has been brought in an inconvenient forum.

 

		12.	Right to Modify or Terminate Plan

 

Kyndryl reserves the unqualified right to suspend, replace or terminate
the Plan or to make changes or amendments to any of its provisions at any time and without prior notice. Such changes or amendments to
the Plan may be made by the Board of Directors of Kyndryl Holdings, Inc., the Committee, or either of their respective designees.

 

		13.	Governing Law

 

The Plan shall be construed, regulated and administered under the laws
of the State of New York, without regard to its conflict of law rules.

 

		14.	No Employment Rights or Contract

 

The Plan does not confer employment rights upon any person. No person
is entitled, by virtue of the Plan, to remain in the employ of the Company or to be rehired, and nothing in the Plan restricts the right
of the Company to terminate the employment of any person at any time.

 

		15.	No Assignment of Benefits

 

Plan payments are not subject to anticipation, alienation, pledge,
sale, transfer, or assignment, and any attempt to cause such amounts to be so subjected will not be recognized, other than by will or
by the laws of descent and distribution.

 

		16.	Successors

 

All obligations of the Company under the Plan, with respect to Awards
granted hereunder, will be binding on any successor to the Company, whether the existence of such successor is the result of a direct
or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business or assets of the Company.

 

		17.	Severability

 

In the event any provision of the Plan is held to be illegal or invalid
for any reason, such illegality or invalidity will not affect the remaining parts of the Plan, and the Plan will be construed and enforced
as if such illegal or invalid provisions had never been included in the Plan.

 

    	Kyndryl Annual Incentive Plan for Executives	4

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