Document:

dboninaemploymentletter

January 31, 2022  By E-Mail  Ms. Diane Bonina  Re: Offer of Employment  Dear Diane:  On behalf of Federal Signal Corporation (“Company” or “Federal Signal”), it is with great pleasure that I present you with the following  offer of employment in the position of Vice President, General Counsel and Secretary, reporting to Jennifer Sherman, Federal Signal’s  President and CEO. We are delighted to welcome you to our executive leadership team.  The precise terms of our offer are as follows:   1) Start Date: Your employment will begin on a date to be mutually agreed upon. 2) Base Salary: Your annual rate of base salary will be $345,000 per year, less taxes and withholdings, and will be paid on a semi- monthly basis, unless a more frequent pay period is required by applicable state law. As determined in the discretion of the Company and subject to budget and performance, you will be considered for an annual merit-based salary increase in March of 2023. 3) Annual Cash Incentive Bonus: In 2022, provided you agreed to the enclosed Terms of Employment Agreement, you will be eligible to earn an annual cash incentive bonus through Federal Signal’s Short-Term Incentive Bonus Plan (“STIP”) in accordance with its terms. Your bonus at target level of performance will be 50% of your base salary and your maximum bonus payout will be 100% of your base salary. For 2022, your bonus will be prorated based on your start date. The STIP is designed to reward and motivate outstanding performance and is currently based on achievement of annual company/business unit and individual objectives. For 2022, company/ business unit objectives (pre-tax income and EBITDA margin) will account for 80% and individual objectives will account for 20% of the bonus opportunity, respectively. Both the weighting and the applicable objectives are determined at the discretion of the Compensation and Benefits Committee (“CBC”)  of Federal Signal’s Board of Directors in or around February of each performance year. In addition to satisfying company/business unit and individual objectives, you must be employed by the Company on the date bonuses are paid in order to earn a bonus. Bonus payments are subject to the approval of the CBC and Federal Signal’s Board of Directors and generally occur in March following the calendar year to which the bonus applies. Your eligibility for and participation in the STIP in subsequent calendar years will be communicated to you in writing when such determinations are made by Federal Signal in its discretion. 4) Long-Term Equity Incentives: a) Subject to the approval of the CBC, on or near your Start Date, you will receive a Restricted Stock Award (“RSA”), with a grant date value of $50,000. Time-based restricted stock cliff vests at the end of a three-year period. b) In 2022, you will be eligible to receive an additional long-term equity incentive award with an aggregate target grant date value of $425,000 as part of Federal Signal’s annual grant cycle, subject to the discretion of the CBC. As currently 

 

Ms. Diane Bonina  January 31, 2022   Page 2  structured for your role, 50% of these awards are comprised of Performance Share Units (“PSUs”), 25% are comprised  of Non-Qualified Stock Options (“NQSOs”), and 25% are comprised of RSAs. PSUs currently vest over a three-year  period and are subject to meeting certain performance criteria over the same three-year period, which may result in  performance shares being earned anywhere between 0% and 200% of target. NQSOs vest ratably over a three-year  period and restricted stock cliff vests at the end of a three-year period.  Any such awards, the amount of such awards, and the terms and conditions applicable to such awards, will be made  and announced, if at all, in the discretion of Federal Signal in connection with its annual grant cycle. This offer letter  does not promise or guarantee a long-term incentive award in 2022 or in subsequent years.    c) To receive these awards, you must enter into Award Agreements which contain the precise terms and conditions of such awards. Award Agreements will be presented to you as soon as administratively feasible after the grant date and include post-employment restrictions, including but not limited to non-competition and non-solicitation commitments. 5) Stock Ownership Guidelines/ Insider Trading:  Based on your position, you are subject to Federal Signal’s stock ownership guidelines (“SOGs”). Generally speaking, this means that, in order to trade in Federal Signal stock, you must attain and at all times thereafter maintain equity in Federal Signal’s common stock valued at two (2) times your base salary. There is no time limit within which you must achieve target ownership under the SOGs. Additional stock holding requirements are imposed by the SOGs. In addition, your ability to trade in Federal Signal stock is regulated by its Insider Trading Policy and applicable law. Copies of Federal Signal’s SOGs and Insider Trading Policy are enclosed with this letter. You must obtain pre-approval from the CEO of all of your transactions in Federal Signal stock. 6) Car Allowance:  You will receive a monthly car allowance in the amount of $750 per month in accordance with Company policies and procedures. 7) Paid Time Off: a. Vacation. Vacation time is based upon calendar year.  You will accrue paid vacation at the rate of 1.67 days for each month  worked up to a maximum accrual of twenty (20) vacation days each calendar year for your use in that same calendar year.  Vacation time may be taken before it is earned, subject to Ms. Sherman’s approval and your agreement to re-pay the Company should your employment end with a negative vacation balance. At the conclusion of a calendar year, up to forty  (40) accrued but unused vacation hours may be carried over to the next vacation year; all other accrued but unused vacation does not carry-over, is forfeited, and is not compensable. The Company encourages you to use all of your vacation time. Vacation entitlement and accrual rates are subject to adjustment and modification in the discretion of the  Company. b. Holidays. The Company recognizes eight (8) published paid holidays, subject to change in the Company’s discretion. c. Personal Days. You are entitled to three (3) paid personal days for your use in 2022. In subsequent years, you will be eligible for three (3) personal days or such other amount as determined by then-applicable Company policy. Unused personal days at the conclusion of the calendar year do not carry-over, are forfeited, and are not compensable. 8) Benefits:  Subject to individual plan requirements, you are eligible to participate in Federal Signal’s group health and welfare benefit programs on the first day of the month after your start date. Coverage options are outlined in the enclosed  Benefits Summary Sheet. With the exception of the Federal Signal Corporation Retirement Savings Plan (in which you will be auto-enrolled as soon as administratively feasible following your date of hire), you must enroll within thirty (30) days of your date of hire in all benefit plans available to you or you waive coverage until the next open enrollment period. Benefit plans may be discontinued or modified in the discretion of Federal Signal. The terms of applicable benefit plan documents control the terms of your eligibility in the event of any discrepancy between the plan documents and the 

 

Ms. Diane Bonina  January 31, 2022   Page 3  Benefits Summary Sheet. You may also be eligible to participate in the non-qualified Federal Signal Corporation Savings  Restoration Plan (“SRP”) beginning in 2023.   8) Severance: Subject to BOD approval, following your one-year anniversary of employment with the Company, you will become eligible to participate in Federal Signal’s Executive General Severance Plan (“Severance Plan”) as a Tier II Executive, as may be amended from time-to-time in Federal Signal’s discretion. Prior to your one-year anniversary, you are not eligible for severance  under any Company severance plan, practice, or program, with the exception of the Executive Change-in-Control Severance Agreement listed below. A copy of the Severance Plan is attached for your review. 9) Executive Change-in-Control Severance Agreement: Subject to BOD approval, you are being offered the opportunity to enter into the enclosed Tier II Executive Change-in-Control Severance Agreement (“CIC Agreement”) with the Company. To accept this opportunity, you must return a signed CIC Agreement along with a signed copy of this offer letter This offer is for at-will employment. This means that either you or the Company may choose to end the employment relationship at any  time with or without cause, for any lawful reason or for no reason. This offer is not, nor shall it be construed to be, a guarantee or  promise of employment for any specified or set period.    This offer of employment, together with the grant of equity awards, STIP participation, and other consideration herein provided, is  expressly conditioned upon you signing and adhering to the enclosed Terms of Employment Agreement which includes post- employment restrictions and obligations owed by you to Federal Signal and its affiliates.  Diane, we hope you will accept this offer and look forward to working with you. To accept this offer, please sign and return to me  this offer letter and the Terms of Employment Agreement on or before January 31, 2022. If not accepted by you on or before that  date, this offer shall be considered withdrawn.     If you have any questions about this offer, please call me at (630) 915-2664.   Best regards,    /s/ Shirley S. Paulson Vice President, Human Resources  Enclosures: Terms of Employment Agreement, Insider Trading Policy, Stock Ownership Guidelines, Executive General Severance  Plan, CIC Agreement  cc:  Jennifer L. Sherman   Acceptance:  I accept the offer set forth above. I further represent and warrant that there were no promises or guarantees made to me that are not  contained in this offer letter.    Diane Bonina  Date  /s/Diane Bonina January 31, 2022Document

January 25, 2021

To: Norman Osumi
nosumi22@gmail.com
408 821 1325

Dear Norm,

I am pleased to offer you the position of SVP, Chief Accounting Officer, working remotely. You are scheduled to start on February 22, 2021, reporting to John Collins, the Company’s CFO.  This letter confirms the terms and conditions of our employment offer to you:
    
•You will be paid a salary at an initial annualized salary rate of $340,000 per year, to be paid in accordance with our then-current payroll practices (we currently pay salary on a semi-monthly basis on the 15th and last day of each month).

•You will be eligible to participate in the LivePerson bonus plan as it exists from time to time under terms comparable to other LivePerson employees of similar role and responsibility.  Your target annual bonus for 2021 will be 35% of your annual base salary which will be prorated for the portion of 2021 that you are employed at LivePerson based on your actual start date.  Your actual bonus payout, if any, is anticipated to be paid during the first quarter of the subsequent fiscal year, and will be determined in the sole discretion of LivePerson based on the profitability of the company as compared to Plan, your individual bonus target and your personal contribution to the company’s efforts as determined by the Company in its sole discretion.  Eligibility for and payment of such bonus, if any, is conditioned on your being actively employed by LivePerson as of the date the bonus, if any, is paid.  Your actual bonus payment is likely to be either greater or less than your target amount based on these criteria.  In any year, LivePerson may determine not to pay any bonus based on the above criteria.  LivePerson reserves the right to amend or terminate its bonus plan at any time.

You will be granted new hire equity as follows: (a) $600,000 in unvested options to purchase shares of LivePerson common stock at a strike price determined by the LivePerson Board of Directors, and (b) $300,000 in unvested LivePerson Restricted Stock Units, in each case on the first Board equity grant date following your employment start date. 

This grant date typically occurs within 3 months of the employment start date. The equity grants described above will be granted in accordance with our then-current standard policies and under the terms and conditions of the LivePerson Incentive Stock Plan together with the corresponding grant document issued to you at the time of the grant. Unvested option and RSU grants made to new hires vest in equal increments of 25% annually over four (4) years, beginning on the first anniversary of the grant date.  

•You will be eligible for vacation in accordance with LivePerson’s vacation policy as it exists from time to time.  Under the current policy, you will accrue vacation at the approximate rate of 1.66 vacation days per month (20 days per year).

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•You will be eligible to enroll in the LivePerson health and disability insurance program on the first day of the first full calendar month of your employment subject to the terms and conditions of the applicable plans and policies, as they exist from time to time.  You will be eligible to participate in the company’s 401(k) savings plan following your employment start date subject to the terms and conditions of the plan.  
    
•You will receive further orientation regarding benefits you are eligible for and company policies on or shortly after your start date. 

•This offer is made contingent upon your successful completion of the Company’s pre-employment procedures, including reference and background verification of your prior employment and other information provided by you during the interview process, as well as proof of identity and authorization to work in the United States, as required by law.

•You will receive further orientation regarding benefits you are eligible for and company policies on or shortly after your start date. 

•Your employment with LivePerson is at-will and may be terminated by you or LivePerson at any time with or without cause and with or without notice.

•In the event that your employment is terminated (a) by the Company without Cause (as defined below), or (b) by you for Good Reason (as defined below), and provided that within thirty (30) days following your termination date you timely execute and do not revoke a separation and release agreement drafted by and satisfactory to the Company (a “Release”), the Company will provide you with severance pay equal to three (3) months pay at your then current base salary rate and, if such termination occurs on or before the date that bonuses are paid for the fiscal year prior to termination, a payment equal to the bonus you would have received for the prior fiscal year had you remained employed on the date bonuses for such fiscal year are paid.   All payments hereunder shall be payable in accordance with the payment procedures described below.   For the avoidance of doubt, the foregoing severance shall not be paid in the event that your employment is terminated by reason of your voluntary resignation (other than for Good Reason). 

•Severance payments described above shall commence on the Company's first regularly scheduled payroll date that occurs as soon as practicable after the conditions set forth above are satisfied, and with respect to bonus payments, on the date bonuses are paid by the Company but in any event all severance and bonus payments hereunder shall be paid in full no later than the fifteenth (15th) day of the third (3rd) month following the end of your first tax year in which your termination of employment occurs, or, if later, the fifteenth (15th) day of the third (3rd) month following the end of the Company's first tax year in which your termination of employment occurs, as provided in Treasury Regulation Section 1.409A-1(b)(4).  The parties intend that the payments and benefits provided pursuant to this letter are exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, the regulations and other guidance under and any state law of similar effect ("Section 409A") and any ambiguities herein will be interpreted to be so exempt.  Each payment and benefit payable under this letter is intended to constitute separate payments for purposes of Treasury Regulation Section 1.409A-2(b)(2).  Notwithstanding anything herein to the contrary, the Company 

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shall have no liability to you or to any other person, for any taxes, penalties or otherwise, if the payments and benefits provided pursuant to this letter that are intended to be exempt from Section 409A are not so exempt.

•In the event that your employment is voluntarily terminated at any time by you or by the Company for Cause, you will be entitled only to your earned and unpaid compensation earned through the date of your termination of employment in accordance with applicable law.  You will not be entitled to severance or any other compensation or consideration that you might have received had your employment with the Company not been terminated.

•For purposes hereof, “Cause” shall mean a determination by the Company (which determination shall not be arbitrary or capricious)  that:  (i) you materially failed to perform your specified or fundamental duties to the Company or any of its subsidiaries,  (ii) you were convicted of, or pled nolo contendere to, a felony (regardless of the nature of the felony), or any other crime involving dishonesty, fraud, or moral turpitude, (iii) you engaged in or acted with gross negligence or willful misconduct (including but not limited to acts of fraud, criminal activity or professional misconduct) in connection with the performance of your duties and responsibilities to the Company or any of its subsidiaries, (iv) you failed to substantially comply with the written rules and policies of the Company or any of its subsidiaries governing employee conduct or with the lawful directives of the Board of Directors, or (v) you breached any non-disclosure, non-solicitation or other restrictive covenant obligation to the Company or any of its subsidiaries.  If the Company in its reasonable discretion determines that an event or incident described in subparagraph (i) or (iv) of the definition of Cause is curable, then in order to terminate your employment for Cause pursuant to subparagraph (i) or (iv) of the definition of Cause, the Company shall (a) provide you with written notice of the event or incident that it considers to be “Cause” within 30 calendar days following its occurrence, (b) provide you with a period of at least 15 calendar days to cure the event or incident, and (c) if the Cause persists following the cure period, terminate your employment by written termination letter any time within 60 calendar days following the date that notice to cure was delivered to you.

•For purposes hereof, “Good Reason” shall mean one or all of the following conditions arising without your consent: (i) a material reduction in your annual base salary by the Company, other than as part of an across-the-board reduction in parity with a reduction applicable to all employees or to other employees of similar role and responsibility or (ii) a material diminution by the Company of your role. To be entitled to terminate your employment for Good Reason, you must (a) provide written notice to the Company of the event or change that you consider constitutes “Good Reason” within 30 calendar days following its occurrence, (b) provide the Company with a period of at least 30 calendar days to cure the event or change, and (c) if the Good Reason persists following the cure period, actually resign by written resignation letter within 60 calendar days following the event or change.

•This letter shall not be construed as an agreement (either express or implied) to employ you, or for any guaranteed term of employment, and shall in no way alter the Company’s policy of employment at-will, under which both the Company and you remain free to end the employment relationship for any reason, at any time, with or without cause or notice. Your employment with LivePerson is at-will and may be terminated by you or LivePerson at any time with or without cause and with or without notice.

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•This offer is made contingent upon your successful completion of the Company’s pre-employment procedures, including reference and background verification of your prior employment and other information provided by you during the interview process, as well as proof of identity and authorization to work in the United States, as required by law.

•By signing this letter you confirm that you are not subject to any agreement, with a prior employer or otherwise, which would prohibit, limit or otherwise be inconsistent with your employment at LivePerson or prevent you from performing your obligations to LivePerson.  Additionally, please be advised that it is LivePerson’s corporate policy not to obtain or use any confidential, proprietary information or trade secrets of its competitors or others, unless it is properly obtained from sources permitted to disclose such information.  By signing this letter below, you are acknowledging that you have been advised of this policy and that you accept and will abide by it, and you are also agreeing that you will not use or disclose any confidential or proprietary information of LivePerson to any third party, including any previous or subsequent employer.

Please indicate your acceptance of this offer by signing and dating below.  You will also receive additional information about LivePerson as well as some forms and documents that you must complete prior to your start date.  Your employment is contingent upon the return of the requested material.  The terms of this offer cannot be changed unless in writing signed by LivePerson. 

LivePerson is a dynamic organization with tremendous growth opportunities.  We look forward to you joining us and hope that you share our excitement for the opportunity it presents to everyone on the team.

Signatures are on the following page.

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	Sincerely,

/s/ John Collins
__________________________________
John Collins, CFO
LivePerson, Inc.

January 25, 2021   
Date
	Accepted By:

/s/ Norman Osumi
______________________________
Norman Osumi

January 25, 2021    
Date

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