SEC Contract Filing

Filing Date: 2023-05-03

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit101marcsirotaagreem.htm
<DESCRIPTION>EX-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 -->
<!-- Copyright 2023 Workiva -->
<title>Document</title></head><body><div id="ic3bc5eba681249d3979cb7309eab2797_1"></div><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="padding-left:5.35pt"><font><br></font></div><div><img alt="image_01.jpg" src="image_01.jpg" style="height:86px;margin-bottom:5pt;vertical-align:text-bottom;width:75px"></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Altice USA, lnc.</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">l Court Square West</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Long Island City. NY 11101</font></div><div><font><br></font></div><div style="margin-top:0.05pt"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">February 5, 2023</font></div><div style="margin-top:0.05pt"><font><br></font></div><div style="margin-top:4.6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%;text-decoration:underline">VIA E-MAIL </font></div><div style="margin-top:8.55pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">Marc Sirota</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:100%">&#91;Address&#93;</font></div><div style="margin-top:4.6pt"><font><br></font></div><div><font><br></font></div><div style="margin-top:0.15pt"><font><br></font></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Dear Marc&#58;</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">We are pleased to present this letter setting forth the details of the employment offer we previously discussed.</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Should you accept this offer of employment with CSC Holdings LLC, a wholly owned subsidiary of Altice USA, Inc. (&#34;AUSA&#34; or the &#34;Company&#34;), your first day of employment is anticipated to be March 6, 2023. This date, or your actual first day of active employment is referred to herein as the &#34;Start Date&#34;. Your principal place of employment will be the Company's offices located in 1 Court Square West, Long Island City, New York.</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">This letter outlines the terms of your employment with the Company as of the Start Date, including your compensation, benefits, and other terms, as set forth below&#58;</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">TITLE&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">EVP, CFO - Telecommunications of Altice USA.</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">DUTIES&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">To oversee and lead the responsibilities and functions associated with the telecommunications divisional CFO position, which role shall include such further duties and responsibilities, as assigned by the Company.</font></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">REPORTING&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">You shall join the Company, reporting to the Chief Financial Officer.</font></div><div style="margin-bottom:6pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">BASE SALARY&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">$500,000 annualized&#59; paid bi-weekly.</font></div><div style="margin-bottom:6pt;text-align:justify"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:120%">INITIAL LONG-TERM INCENTIVE (&#34;LTI&#34;) EQUITY GRANT&#58; </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">An award with an aggregate grant date value of $3,000,000, which will be granted in the form of time-vesting restricted stock units under the Company's Amended and Restated 2017 Long-Term Incentive Plan, as amended (the &#34;Plan'') in the financial quarter following the Start Date and will vest in equal installments on each of the first, second and third anniversaries of the grant date, subject in all respects to approval by the Compensation Committee of the AUSA Board of Directors (the &#34