SEC Contract Filing

Filing Date: 2024-04-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>8
<FILENAME>ex107interimceoofferletter.htm
<DESCRIPTION>EX-10.7 OFFER LETTER TO MARTHA SULLIVAN
<TEXT>
<html><head>
<!-- Document created using Wdesk -->
<!-- Copyright 2024 Workiva -->
<title>Document</title></head><body><div id="i3a0f39aed4054aedae358cd234fa2036_1"></div><div style="min-height:105.12pt;width:100%"><div style="text-align:right"><img alt="imagea.jpg" src="imagea.jpg" style="height:90px;margin-bottom:5pt;vertical-align:text-bottom;width:142px"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:75.641%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Sensata </font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">529 Pleasant Street</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Attleboro, MA 02703</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Telephone&#58; 508-236-3800</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Fax&#58; 508-236-3862</font></td></tr></table></div><div style="text-align:right"><font><br></font></div></div><div style="margin-top:2.8pt;padding-left:5pt;padding-right:382.65pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:232%">April 26, 2024</font></div><div style="margin-top:0.05pt;padding-left:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Dear Martha N. Sullivan,</font></div><div style="margin-top:0.55pt"><font><br></font></div><div style="padding-left:5pt;padding-right:6.35pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">We are pleased to offer you the role of Interim President and Chief Executive Officer (&#8220;CEO&#8221;) of Sensata Technologies (&#8220;Sensata&#8221; or the &#8220;Company&#8221;), effective as of May 1, 2024. </font></div><div style="margin-top:0.55pt"><font><br></font></div><div style="padding-left:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Duties and Responsibilities</font></div><div style="padding-left:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">You will report directly to the Board of Directors of Sensata Technologies Holding plc (the &#8220;Board&#8221;) and will perform such duties as are assigned to you, from time to time, by the Board commensurate with the position of Interim President and CEO.</font></div><div style="padding-left:5pt"><font><br></font></div><div style="padding-left:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Base Salary</font></div><div style="padding-left:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Your annual base salary will be $1,050,000, subject to appropriate tax withholdings and deductions. You will be paid semi-monthly in accordance with Sensata&#8217;s normal payroll practices. Pay dates are the 15th and the last day of the month. As an exempt employee, you are not eligible for overtime compensation.</font></div><div style="margin-top:0.55pt"><font><br></font></div><div style="padding-left:5pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Executive Bonus Plan</font></div><div style="padding-left:5pt;padding-right:7.8pt"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">In addition to your base salary, you will be eligible to participate in Sensata&#8217;s 2024 Executive Bonus Plan (&#8220;Bonus Plan&#8221;)&#59; payable on or around the end of Q1 2025 and subject to its terms and conditions. Your annual target bonus is 135% of your annual base salary. If a permanent CEO is appointed and commences employment before December 31, 2024, then you will receive a pro rata amount of your target bonus for 2024 equal to (x) your target bonus, </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">multiplied by</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> (y) a fraction, the numerator of which is the number of days in 2024 you were employed as Interim President and CEO and the denominator of which is 365. If a permanent CEO has not been appointed and commenced employment before December 31, 2024, then (i) your final bonus payout for 2024, if any, will be determined in accordance with factors including, but not limited to, your individual performance, business unit performance, and Sensata&#8217;s performance as further detailed in the terms and conditions of the Bonus Plan and (ii) your eligibility to participate in the 2025 Bonus Plan and the terms and conditions thereunder will be determined by the Board. </font></div><div style="margin-top:0.55pt"><font><br></font></div><div style="padding-left:5pt"><font style="color:#000000;f