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ctg-ex10f_10.htm

EXHIBIT 10 (f)

 

COMPUTER TASK GROUP, INCORPORATED

 

COMPENSATION ARRANGEMENTS FOR THE NAMED EXECUTIVE OFFICERS

 

Set forth below is a summary of the annual and incentive compensation paid by Computer Task Group, Incorporated (the Company) to its named executive officers (defined in Regulation S-K Item 402(a)(3)) in their current positions as of the date of the filing of the Company's Annual Report on Form 10-K for the year ended December 31, 2018. All of the Company's executive officers are at-will employees whose compensation and employment status may be changed at any time at the discretion of the Company's Board of Directors, subject only to the terms of employment agreements, as applicable, between the Company and these executive officers.

 

Effective January 1, 2019, the named executive officers are scheduled to receive the following annual base salaries in their current positions:

 

	
 
	
 
	
Current Annual

Salary

	
Arthur W. Crumlish (1)

President and Chief Executive Officer
	
 
	
$
	
410,000

	
John M. Laubacker

Senior Vice President, Chief Financial Officer & Treasurer
	
 
	
$
	
355,000

	
Filip J.L. Gyde (2)

Senior Vice President, General Manager, Europe
	
 
	
$
	
371,589

	
Jeffrey D. Gerkin (3)
	
 
	
 
	
 

	
Executive Vice President, General Manager, North America
	
 
	
$
	
325,000

	
Peter P. Radetich

Senior Vice President, General Counsel
	
 
	
$
	
283,000

 

Executive officers are also eligible to receive incentive compensation each year primarily based upon the achievement of certain targets. These targets may include specific levels of revenue growth, gross profit, or operating income. Total incentive bonuses were awarded to the named executives for 2018 as follows:

 

	
 
	
 
	
2018 Bonus

	
Arthur W. Crumlish
	
 
	
$
	
222,341

	
John M. Laubacker
	
 
	
$
	
106,152

	
Filip J.L. Gyde
	
 
	
$
	
229,406

	
Jeffrey D. Gerkin
	
 
	
$
	
141,609

	
Peter P. Radetich
	
 
	
$
	
102,689

 

 

 

(1)Mr.  Crumlish, the Company’s former CEO, retired as CEO and resigned as a director effective March 1, 2019.

(2)Mr. Gyde is paid in Euros. This amount represents his base pay of 324,229 Euros translated into United States Dollars at the January 1, 2019 exchange rate.

(3)Mr. Gerkin resigned from the Company effective March 8, 2019.Exhibit

Broadcom Inc. 
(the “Company”)

Policy on Acceleration of Executive Staff
Equity Awards in the Event of Permanent Disability

March 13, 2019

This policy (the “Policy”) applies in the event of the Permanent Disability, as defined below, of (i) any officer of the Company, as such term is defined Rule 16a-1, promulgated under the Securities Exchange Act of 1934, as amended (each, an “Officer”) and (ii) any member of the Executive Staff, from time to time, of the Chief Executive Officer of the Company (the “CEO”), as determined by the CEO (each such person, an “Executive Staff Member” and together with the Officers, the “Covered Executives”).  

The Board of Directors of the Company (the “Board”) believes that it is important to provide Covered Executives with certain benefits relating to their outstanding equity and equity-linked awards, as set forth below, upon his or her termination of service to the Company and its subsidiaries (collectively, “Broadcom”) due to Permanent Disability, to enhance Covered Executives’ financial security thereby providing incentive and encouragement to remain with Broadcom notwithstanding the possibility of such an event.

In the event an employee of Broadcom experiences a Covered Termination at a time when he or she is a Covered Executive, each outstanding and unvested Eligible Award shall automatically become vested and, if applicable, any forfeiture restrictions or rights of repurchase thereon shall immediately lapse, in each case, with respect to one-hundred percent (100%) of that number of unvested shares of Company common stock underlying such Eligible Award as of the Termination Date. 

“Compensation Committee” means the Compensation Committee of the Board.

“Covered Termination” means the termination of Covered Executive’s employment because of Covered Executive’s Permanent Disability, in each case, to the extent necessary, that constitutes a “Separation from Service” (as defined below).

“Eligible Award” means each Company equity and equity-linked award held by such employee that as of the Termination Date, pursuant to its terms, vests solely based upon continued service (including, without limitation, each time-based stock option and restricted stock unit award and each performance-based stock option and restricted stock unit award for which the performance criteria has been met as of the Termination Date), provided that any such award with a Vesting Base Date (as defined in the agreement evidencing the award) shall be deemed an Eligible Award only if the Termination Date occurs following the Vesting Base Date.

“Permanent Disability” means the Covered Executive is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or which has lasted or can be expected to last for a continuous period of not less than twelve (12) months. 

“Termination Date” means the date Covered Executive experiences a Covered Termination.

Notwithstanding any provision to the contrary in this Policy, no amount deemed deferred compensation subject to Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) shall be payable pursuant to this Policy unless Covered Executive’s termination of employment constitutes a “separation from service” with Broadcom within the meaning of Section 409A of the Code and the Department of Treasury regulations and other guidance promulgated thereunder (“Separation from Service”) and, except as provided in the following paragraph, any such amount shall be paid or distributed on the sixtieth (60th) day following the Covered Executive’s Separation from Service. 

2

If the Covered Executive is deemed at the time of his or her Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which Executive is entitled under this Policy is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of Covered Executive’s benefits shall not be provided to Executive (or such Executive’s heirs, executors, legatees, administrators or successors, as applicable) prior to the earlier of (a) the expiration of the six (6)-month period measured from the date of Executive’s Separation from Service or (b) the date of Executive’s death. Upon the first business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this paragraph shall be paid or distributed in a single lump sum to Executive.

Each Covered Executive’s employment with Broadcom is and shall continue to be “at-will,” as defined under applicable law. 

The benefits provided under this Policy are intended to be additive to any benefits a Covered Executive becomes entitled to under any other policy, program, plan or agreement, notwithstanding any language therein to the contrary, unless the provision of benefits hereunder is deemed by the Board or the Compensation Committee, as applicable, to be duplicative.  Any determination of the Board or the Compensation Committee, as applicable, shall be conclusive and binding on the Company and the applicable Covered Executive.  For the avoidance of doubt, this Policy supersedes the Policy on Acceleration of Executive Staff Equity Awards in the Event of Death or Permanent Disability, dated April 4, 2018, which has been terminated effective as of the date this Policy was approved by the Board.  

This Policy shall be administered by the Compensation Committee in respect of Covered Executives other than the CEO and by the Board in respect of the CEO. The determination of the Board or the Compensation Committee, as applicable, need not be uniform with respect to one or more Covered Executives. 

3

The Policy will be governed by and construed in accordance with the laws of the State of California.

The Board or the Compensation Committee may amend, repeal or replace the Policy in whole or part at any time, provided, that to the extent any such amendment or replacement materially increases the benefit provided to the CEO hereunder, such amendment or replacement shall be approved by the Board.

Policy Effective  March 13, 2019

4Exhibit

Broadcom Inc. 
(the “Company”)

Policy on Acceleration of
Equity Awards in the Event of Death

March 13, 2019

This policy (the “Policy”) applies in the event of the death of an employee, director or other service provider of the Company or its subsidiaries (collectively, “Broadcom”).  

The Board of Directors of the Company (the “Board”) believes that it is important to provide each employee, director or other service provider of Broadcom (each, an “Eligible Person”) with certain benefits relating to their outstanding equity and equity-linked awards, as set forth below, upon his or her termination of service to Broadcom due to death to enhance the Eligible Person’s financial security thereby providing incentive and encouragement to remain with Broadcom notwithstanding the possibility of such an event.

In the event an Eligible Person experiences a Covered Termination, then each outstanding and unvested Eligible Award held by such Eligible Person shall automatically become vested and, if applicable, any forfeiture restrictions or rights of repurchase thereon shall immediately lapse, in each case, with respect to one-hundred percent (100%) of that number of unvested shares of Company common stock underlying such Eligible Award as of the Termination Date. 

“Compensation Committee” means the Compensation Committee of the Board.

“Covered Termination” means the termination of an Eligible Person’s employment or other service due to such Eligible Person’s death, provided, that none of 

the following exists at the time of such death:  (i) such death is the result of such Eligible Person’s suicide, (ii) such Eligible Person’s death occurred during the commission of a crime and (iii) the individual responsible for the death of such Eligible Person is reasonably expected to benefit from the acceleration of the vesting of the Eligible Award, in each case, as determined by the Policy Committee. 

“Eligible Award” means each Company equity and equity-linked award held by an Eligible Person that as of the Termination Date, pursuant to its terms, vests solely based upon continued service (including, without limitation, each time-based stock option and restricted stock unit award and each performance-based stock option and restricted stock unit award for which the performance criteria has been met as of the Termination Date), provided that any such award with a Vesting Base Date (as defined in the agreement evidencing the award) shall be deemed an Eligible Award only if the Termination Date occurs following the Vesting Base Date.

“Policy Committee” means a committee designated by the Compensation Committee that shall initially be comprised of Broadcom’s Vice President of Human Resources, Head of Internal Audit, Associate General Counsel, Employment and Deputy General Counsel, Corporate.  

“Termination Date” means the date an Eligible Person experiences a Covered Termination.

Each individual’s employment or other service relationship with Broadcom is and shall continue to be “at-will,” as defined under applicable law. 

The benefits provided under this Policy are intended to be additive to any benefits an Eligible Person becomes entitled to under any other policy, program, plan or agreement, notwithstanding any language therein to the contrary, unless the provision of benefits hereunder is deemed by the Compensation Committee or Policy Committee, as applicable, to be duplicative.   

2

This Policy shall be administered by the Policy Committee in respect of Eligible Persons who are not (i) officers of the Company, as such term is defined Rule 16a-1, promulgated under the Securities Exchange Act of 1934, as amended (each such person, an “Officer”), and (ii) a member of the Executive Staff, from time to time, of the Chief Executive Officer of Broadcom (the “CEO”), as determined by the CEO (each such person, an “Executive Staff Member”).  This Policy shall be administered solely by the Compensation Committee in respect of each Officer, director of the Company or employee designated as an Executive Staff Member.  The Compensation Committee shall have the authority to remove and appoint members of the Policy Committee at any time, and may, from time to time, revest in itself the authority to administer this Policy.  Any determination under this Policy by the Compensation Committee or, to the extent authorized hereunder, the Policy Committee shall be conclusive and binding on Broadcom and the applicable Eligible Person. The determination of the Compensation Committee or Policy Committee, as applicable need not be uniform with respect to one or more Eligible Persons. 

The Policy will be governed by and construed in accordance with the laws of the State of California.

The Compensation Committee may amend, repeal or replace the Policy in whole or part at any time, provided, that to the extent any such amendment or replacement materially increases the benefit provided to the CEO hereunder, such amendment or replacement shall be approved by the Board.

Policy Effective: March 13, 2019

3

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