SEC Contract Filing

Filing Date: 2023-11-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.12
<SEQUENCE>3
<FILENAME>exhibit1012vonbayernofferl.htm
<DESCRIPTION>EX-10.12
<TEXT>
<html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2023 Workiva -->
<title>Document</title></head><body><div id="i73e83318f91e4235a739cc8cb48f81fd_34"></div><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Exhibit 10.12</font></div><div style="text-align:right"><font><br></font></div><div style="text-align:center"><img alt="cotylogo20201.jpg" src="cotylogo20201.jpg" style="height:63px;margin-bottom:5pt;vertical-align:text-bottom;width:172px"></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:700;line-height:107%">Anna von Bayern</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:107%"> </font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:107%"> </font></div><div><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:107%">Amsterdam, September 28, 2023</font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:107%">Subject&#58; FY24 Compensation </font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:107%">This letter supersedes and replaces the letter dated September 20, 2023</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:107%">Dear Anna,</font></div><div><font><br></font></div><div><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">I hereby confirm updates to your current compensation. This new package has been discussed and approved by the Remuneration and Compensation Committee (RNC) of the Coty Board of Directors.</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">The new terms of your compensation are the following&#58;</font></div><div style="text-align:justify"><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:11.89pt">Effective from 1 October 2023, your annual base salary is increased from 750,000&#8364; to 800,000&#8364; (+6.6%).</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:11.89pt">Effective from 1 July 2023, you become eligible to participate in the Coty Bonus Program (&#8216;CBP&#8217;) with a target award of 70% of your annual base salary. </font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">&#8211;</font><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%;padding-left:11.89pt">Effective from the coming ELTIP grant of October 2023, your annual ELTIP award is adjusted to USD$1,200,000. As a reminder, the Equity &#38; Long-Term Incentive Plan (&#8220;ELTIP&#8221;) is governed by the applicable terms and conditions of the ELTIP, subject to the discretion of the Board of Directors of Coty as amended from time to time. From October 2023, ELTIP awards will be comprised of Restricted Stock Units (RSUs) and of Performance Restricted Stock Units (PRSUs). Priya Srinivasan will share with you more information about these new principles. </font></div><div><font><br></font></div><div><font><br></font></div><div style="height:72pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font><br></font></div><div style="text-align:right"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Page 2&#47;2</font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font><br></font></div><div style="text-align:justify"><font style="color:#000000;font-family:'Arial',sans-serif;font-size:11pt;font-weight:400;line-height:112%">As a summary, please find below the comparison between yo