Document:

Severance Agreement Letter - Daniel H. Leever

 Exhibit 10.1 
 [Letterhead of MacDermid] 
 May 23, 2011 

Daniel H. Leever 
 1397 Vail Valley Drive

 Vail, CO 81657 
  

	 	Re:	Severance Agreement 

 Dear Dan:

 I write to confirm our agreement regarding severance in the case where your employment with MacDermid
Incorporated (“MacDermid”) is involuntarily terminated without Cause (as defined herein). If your employment is involuntarily terminated without Cause then you will be paid a severance equal to two (2) years base salary, based upon
the then most recent one (1) year period and two (2) years target bonus based upon the then current and applicable bonus plan for you as approved by the board of directors. If the conditions hereof are satisfied, the severance will become
payable on the 91st day after your involuntary termination
without Cause. No severance will be paid if you voluntarily leave your position or are terminated for Cause. In order to receive the foregoing severance payment, you will be required to execute and effectuate (without revoking) MacDermid’s
standard termination agreement containing a full, final general release in favor of MacDermid and its affiliates and will be required to sign and abide by MacDermid’s Standard Employee Agreement, including without limitation its noncompetition
provisions. 
 As used in this agreement, Cause shall mean: 

 

	 	1.	CAUSE: 

  

	 	(i)	you are charged with, convicted of, or plead guilty or nolo contendere to, any crime constituting a felony or involving dishonesty or moral turpitude;

  

	 	(ii)	you engage in any activity that amounts to gross negligence and that significantly affects the business affairs, or reputation of the company or;

  

	 	(iii)	you fail to perform your duties, after receiving notice of such failure from the company in writing; or 

 

	 	(iv)	you commit a gross and willful violation of the Company’s standard policies, or the law, and such violation creates a material liability (actual or potential) for
the company. 

 This agreement is contingent upon your signing MacDermid’s standard Employee Agreement
which contains, among other things, a one (1) year non-compete, and this agreement shall serve as additional consideration for your performance under the Employee Agreement. You will at all times be an at will employee. Please indicate your
acceptance and agreement by countersigning and returning this letter to my attention. 
  

	
	Sincerely,
	
	/s/ John L. Cordani
	John L. Cordani

  

			
	Accepted and Agreed
	
	/s/ Daniel H. Leever
	Name:	 	Daniel H. Leever
	Date:	 	May 25, 2011Severance Agreement Letter - Frank J. Monteiro

 Exhibit 10.2 
 [Letterhead of MacDermid] 
 Frank Monteiro 

c/o MacDermid, Incorporated 
 245 Freight Street

 Waterbury, CT. 06702 

January 7, 2003 
  

	 	Re:	Severance Agreement 

 Dear Frank,

 I write to confirm our agreement regarding severance in the case where your employment with MacDermid is involuntarily
terminated without Cause (as defined herein) or within two (2) years after a Change of Control (as defined herein). If your employment with MacDermid is involuntarily terminated without Cause then MacDermid will pay you a severance equal to one
(1) year’s base salary, based upon the then most recent year period. In the alternative, if your employment is involuntarily terminated within two (2) years after a Change of Control then you will be paid a severance equal to two
(2) year’s base salary and cash bonus, based upon the then most recent two year period. In order to receive either foregoing severance payment, you will be required to execute MacDermid’s standard termination agreement (form attached)
containing a full, final general release in favor of MacDermid. 
 As used in this agreement, Cause and Change of Control shall
mean: 
  

	 	1.	Cause – 

  

	 	(i)	you are convicted of, or plead guilty or nolo contendere to, any crime constituting a felony or involving dishonesty or moral turpitude; 

 

	 	(ii)	you engage in any activity that amounts to negligence and that significantly affects the business affairs or reputation of the company; 

 

	 	(iii)	you willfully fail to perform your duties, or perform your duties in a grossly negligent manner, which failure or performance continues for twenty (20) days after
written notice from the company; or 

  

	 	(iv)	you violate the Company’s standard policies, or the law, and such violation creates a substantial liability (actual or potential) for the company.

	 	2.	Change of Control – 

  

	 	(i)	acquisition by any person or group, except for an employee benefit plan sponsored by the company, of beneficial ownership of 50% or more of the company’s voting
securities in any combination; 

  

	 	(ii)	the sale of all or substantially all of the assets of MacDermid; or 

  

	 	(iii)	individuals, who as of January 1, 2002 are members of MacDermid’s Board of Directors (the “Incumbents”), and any additional individuals
(“Additional Directors”) who are recommended to become Directors by a majority of the Incumbents and/or any then previously so recommended and elected Additional Directors, cease for any reason to constitute a majority of the Board of
Directors of MacDermid. 

 Please indicate your acceptance and agreement by countersigning and returning this
letter to my attention. 
  

	
	Sincerely,
	
	/s/ John L. Cordani
	John L. Cordani

  

			
	Accepted and Agreed
	
	/s/ Frank Monteiro
	Name:	 	Frank MonteiroSeverance Agreement Letter - John L. Cordani

 Exhibit 10.3 
 [Letterhead of MacDermid Inc.] 
 John Cordani 

c/o MacDermid, Incorporated 
 245 Freight Street

 Waterbury, CT. 06702 
 July 22, 2002 
  

	 	Re:	Severance Agreement 

 Dear John,

 I write to confirm our agreement regarding severance in the case where your employment with MacDermid is involuntarily
terminated without Cause (as defined herein) or within two (2) years after a Change of Control (as defined herein). If your employment with MacDermid is involuntarily terminated without Cause then MacDermid will pay you a severance equal to one
(1) year’s base salary, based upon the then most recent year period. In the alternative, if your employment is involuntarily terminated within two (2) years after a Change of Control then you will be paid a severance equal to two
(2) year’s base salary and cash bonus, based upon the then most recent two year period. In order to receive either foregoing severance payment, you will be required to execute MacDermid’s standard termination agreement (form attached)
containing a full, final general release in favor of MacDermid. 
 As used in this agreement, Cause and Change of Control shall
mean: 
  

	 	1.	Cause – 

  

	 	(i)	you are convicted of, or plead guilty or nolo contendere to, any crime constituting a felony or involving dishonesty or moral turpitude; 

 

	 	(ii)	you engage in any activity that amounts to negligence and that significantly affects the business affairs or reputation of the company; 

 

	 	(iii)	you willfully fail to perform your duties, or perform your duties in a grossly negligent manner, which failure or performance continues for twenty (20) days after
written notice from the company; or 

  

	 	(iv)	you violate the Company’s standard policies, or the law, and such violation creates a substantial liability (actual or potential) for the company.

	 	2.	Change of Control – 

  

	 	(i)	acquisition by any person or group, except for an employee benefit plan sponsored by the company, of beneficial ownership of 50% or more of the company’s voting
securities in any combination; 

  

	 	(ii)	the sale of all or substantially all of the assets of MacDermid; or 

  

	 	(iii)	individuals, who as of January 1, 2002 are members of MacDermid’s Board of Directors (the “Incumbents”), and any additional individuals
(“Additional Directors”) who are recommended to become Directors by a majority of the Incumbents and/or any then previously so recommended and elected Additional Directors, cease for any reason to constitute a majority of the Board of
Directors of MacDermid. 

 Please indicate your acceptance and agreement by countersigning and returning this
letter to my attention. 
  

	
	Sincerely,
	
	/S/ DANIEL H. LEEVER
	Daniel H. Leever

  

	
	Accepted and Agreed
	
	/S/ JOHN L. CORDANI
	John L. CordaniMemorandum of Agreement - John L. Cordani

 Exhibit 10.4 
 Memorandum of Agreement 
 MacDermid,
Incorporated (“MacDermid”) and John L. Cordani (“Cordani”) hereby enter into this agreement of employment on this 9th day of July, 2001. The parties hereto agree as follows: 

 

	 	1.	MacDermid will employ Cordani as its General Counsel, Secretary, and Vice President with the functions of General Counsel and Secretary for MacDermid and all of its
subsidiaries. Cordani will be a member of MacDermid’s executive committee. Cordani’s job functions, responsibilities, and location in Waterbury, CT will not change without mutual agreement of both parties.

  

	 	2.	Cordani’s base salary shall be $250,000 per year and shall not be decreased. Cordani shall also be eligible for raises, incentive bonuses, stock options, and
restricted stock grants at the discretion of MacDermid’s compensation committee on a yearly basis on a basis similar to other executives. As of Cordani’s first day of employment, Cordani will be granted options which are essentially equal
in value to all of the options previously forfeited by Cordani. Cordani shall also be provided such other options as are necessary to put him on an equal footing with other MacDermid executives. 

 

	 	3.	Cordani shall be allowed to keep the previously issued restricted stock grants. One grant of 1,701 shares vested on 5/14/01 and another of 1,744 shares was to vest on
5/14/02. 

  

	 	4.	Cordani’s accrual of service for his pension benefit under MacDermid’s qualified pension plan shall begin immediately on his rehire date and be aggregated
together with his prior service. Cordani did not accrue service for the period of time he was employed elsewhere. 

  

	 	5.	Cordani shall be entitled to retiree health insurance (medical and dental) under the conditions of the plan based on his original hire date of June 16, 1986
without regard to his absence. The plan specifies that Cordani must have 20 years with the company and be a participant in one of the medical and dental plans offered by the Company for the 20 years immediately preceding his retirement, but for
other purposes Cordani’s absence from the Company shall not be considered and his service shall be aggregated. 

  

	 	6.	Cordani shall receive retirement benefits under MacDermid’s supplemental executive retirement plan (SERF) based upon his aggregate years of employment with
MacDermid as of retirement. 

	 	7.	Cordani shall be immediately eligible for all benefits offered to MacDermid employees and/or executives from time to time. There shall be no waiting period for any
benefit including pension, KSOP, 401-k, health insurance and other benefits. Cordani shall be immediately vested in all benefits, including pension, KSOP, 401-k and other benefits. Cordani shall be provided PTO based upon his entire aggregate
employment with MacDermid. 

  

	 	8.	If at any time, Cordani’s employment with MacDermid is terminated or ceases for any reason at all, other than (i) if Cordani voluntarily leaves the
employment of MacDermid entirely and solely of his own accord or (ii) Cordani’s employment with MacDermid has been terminated as a result of his conviction for criminal wrongdoing in connection with his employment with MacDermid, then
MacDermid shall pay Cordani a severance amount equal to two years salary, in monthly installments. Such payments will cease at such time Cordani is employed elsewhere at a salary equal to or greater than his former salary with MacDermid. If Cordani
takes a position making less than his former base salary, MacDermid will make up the difference for the balance of that 24 month period. 

  

	 	9.	This agreement shall not be assigned by either party without the written consent of the other party but shall be binding upon and enforceable against all successors in
interest of MacDermid. 

  

	 	10.	MacDermid will allow Cordani to transition his responsibilities at Carmody and Torrance. MacDermid will also allow Cordani to maintain his affiliation with Carmody and
Torrance. MacDermid will indemnify Carmody and Torrance for any liability that may arise as a result of any action taken by Cordani as an officer of MacDermid. 

 

	 	11.	This agreement shall become effective upon the written request of either party on January 1, 2002, or thereafter based upon mutual agreement.

 In witness whereof, the parties represent that this agreement had been duly authorized and have set their
hands hereto on this 25th day of June, 2001. 

 

									
		 	/s/ John L. Cordani	 		 		 	MacDermid, Incorporated
		 	John L. Cordani	 		 		 	
					
		 		 		 	By:	 	/s/ Daniel H. Leever
		 		 		 		 	Daniel H. Leever
		 		 		 		 	CEO and Chairman of the Board

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