SEC Contract Filing

Filing Date: 2020-11-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>nvst-exhibit101.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd">
<html>
	<head>
 <!-- Document created using Wdesk 1 -->
 <!-- Copyright 2020 Workiva -->
 <title>Exhibit</title>
	</head>
	<body><div style="font-family:Times New Roman;font-size:10pt;">
<div><a name="sC7BC930813805E91ADE2654706E9A106"></a></div><div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Exhibit 10.1</font></div><div style="line-height:120%;text-align:right;font-size:16pt;"><font style="font-family:inherit;font-size:16pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ENVISTA HOLDINGS CORPORATION </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">SEVERANCE AND CHANGE IN CONTROL PLAN</font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Effective as of November 4, 2020</font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">ARTICLE I </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">PURPOSE AND TERM </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 1.01 Purpose of the Plan. The purpose of the Plan is to provide Eligible Employees with certain compensation and benefits as set forth in the Plan in the event the Eligible Employee&#8217;s employment with the Company is terminated, or in the event of a Change in Control. </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The benefits provided in connection with a Change in Control are intended to assure that the Company will have the continued dedication of the Eligible Employee, notwithstanding the possibility, threat or occurrence of a Change in Control, and to incentivize Eligible Employees to pursue good faith negotiation of transactions that are in the best interest of the Company&#8217;s stockholders. The Board believes it is imperative to diminish the inevitable distraction of the Eligible Employee by virtue of the personal uncertainties and risks created by a pending or threatened Change in Control; to encourage the Eligible Employee&#8217;s full attention and dedication to the Company currently and in the event of any threatened or pending Change in Control; and to provide the Eligible Employee with competitive compensation and benefits arrangements for a limited period following a Change in Control. </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">The Plan is not intended to be an &#8220;employee pension benefit plan&#8221; or &#8220;pension plan&#8221; within the meaning of Section 3(2) of ERISA. Rather, the severance provisions of this Plan are intended to be a &#8220;welfare benefit plan&#8221; within the meaning of Section 3(1) of ERISA and to meet the descriptive requirements of a plan constituting a &#8220;severance pay plan&#8221; within the meaning of regulations published by the Secretary of Labor at Title 29, Code of Federal Regulations, section 2510.3-2(b). Accordingly, the Severance Benefits paid by the Plan are not deferred compensation and no employee shall have a vested right to such benefits. </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 1.02 Term of the Plan. The Plan shall generally be effective as of the Effective Date, but subject to amendment from time to time in accordance with Section 7.01. The Plan shall continue until terminated pursuant to Article VII of the Plan. </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">ARTICLE II </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">DEFINITIONS </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 2.01 &#8220;Annual Bonus Target Amount&#8221; shall mean 100% of the Participant&#8217;s target annual bonus in effect as of the Participant&#8217;s Separation from Service Date (disregarding for this purpose any reduction that is the basis for a Good Reason Resignation); provided that if the Participant&#8217;s target annual bonus for the year has not yet been established as of the date of his or her Separation from Service, then the target annual bonus in effect for the immediately preceding year shall apply. </font></div><div style="line-height:120%;padding-bottom:10px;text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">Section 2.02 &#8220;Base Salary&#8221; shall mean the annual base salary in effect as of the Participant&#8217;s Separation from Service Date (disregarding for this purpose any reduction that is the basis for a Good Reason Resignation). <