8-K
20230110 784.89 kB 4
<span id="ex101dennispolkamendment3t.htm"></span><!DOCTYPE html PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html lang="en-US"><head> <!-- Document created using Wdesk --> <!-- Copyright 2023 Workiva --> <title>Form 8-K filed by on 2023-01-10</title></head><body><div id="i2bb9daf31f834f9eafd113dba5ece607_1"></div><div style="min-height:77.76pt;width:100%"><div><font><br></font></div></div><div style="margin-bottom:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">January 4, 2023</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Dennis Polk</font></div><div style="margin-bottom:12pt;padding-left:72pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Re&#58;&#160;&#160;&#160;&#160;Amendment No. 3 to Promotion Offer Letter</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Dear Mr. Polk&#58;</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Reference is made to that certain promotion offer letter, dated January 4, 2018, as amended, (the &#8220;Offer Letter&#8221;), by and between you and TD SYNNEX Corporation (&#8220;Company&#8221;).</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Pursuant to Section 14(b) of the Offer Letter, as of the date first written herein, the Company and you wish to amend the Offer Letter by this letter amendment no. 3 (&#8220;Amendment No. 3&#8221;) in connection with your transition to Executive Chair. </font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Capitalized terms used in this Amendment No. 3 which are not otherwise defined herein, shall have the meanings given such terms in the Offer Letter. Therefore, the parties agree Sections 3 and 5 shall be amended as follows&#58;</font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Amendment to the Agreement</font></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">The second paragraph of Section 3 shall be amended and replaced as follows&#58;</font></div><div style="margin-bottom:12pt;padding-left:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Effective December 1, 2022 through November 30, 2023 (the &#8220;Final Transition Period&#8221;), the Company will pay you a starting base salary at the rate of $800,000 per year ($66,667 per month). In addition, in light of your continued duties in the business your target bonus for the fiscal year ending November 30, 2023 will be $800,000 with the performance metrics established by the Compensation Committee for executives having similar business responsibilities, provided you remain employed through November 30, 2023. The bonus for a fiscal year will be paid within 2-1&#47;2 months after the last day of the fiscal year. The determinations of the Compensation Committee with respect to your bonus will be final and binding.</font></div><div style="margin-bottom:12pt;padding-left:36pt;text-indent:-36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Reference to and Effect on the Agreement</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">1.1</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:21pt">Upon the effectiveness of this Amendment No. 3, on and after the date hereof, each reference to the Offer Letter shall mean and be a reference to the Offer Letter as amended hereby.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">1.2</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:21pt">Except as specifically set forth above, the Offer Letter, and all other amendments, documents, instruments and agreements executed and&#47;or delivered in connection therewith, shall remain in full force and effect, and are hereby ratified and confirmed.</font></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">1.3</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;padding-left:21pt">The execution, delivery and effectiveness of this Amendment No. 3 shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of a party, nor constitute a waiver of any provision of the Offer Letter, or any other documents, instruments and agreements executed and&#47;or delivered in connection therewith.</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:77.76pt;width:100%"><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Page 2</font></div><div><font><br></font></div><div><font><br></font></div></div><div style="margin-bottom:12pt;text-indent:36pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">If the above changes to the Offer Letter are acceptable, please acknowledge your acceptance below and return the executed portion of this Amendment No. 3 on or before January 6, 2023.</font></div><div style="margin-bottom:12pt;text-indent:180pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Very truly yours,</font></div><div style="margin-bottom:12pt;text-indent:180pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">TD SYNNEX Corporation</font></div><div style="margin-bottom:12pt;text-indent:180pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#47;s&#47; Hau Lee</font></div><div style="text-indent:180pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Hau Lee</font></div><div style="margin-bottom:12pt;text-indent:180pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Chairman, TD SYNNEX Compensation Committee </font></div><div style="margin-bottom:12pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">AGREED AND ACCEPTED&#58;</font></div><div style="margin-bottom:12pt"><font><br></font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">&#47;s&#47; Dennis Polk</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">__________________</font></div><div><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Dennis Polk</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></body></html>