LCI Industries offers CFO Etzkorn $486,675 transaction and retention bonus
LCII•LCI Industries subsidiary Lippert entered a $486,675 cash bonus agreement with CFO Lillian D. Etzkorn, with payments tied to the merger with Patrick Industries and continued service.
1. Bonus terms
Under the Nov. 13 agreement, 40% of the bonus vests when the merger with Patrick Industries closes or the merger agreement is terminated. The remaining 60% vests six months after closing, subject to continued employment or service, and requires the merger to close. Each portion is payable within five days of vesting; Lippert may pay the full bonus within 60 days after a termination without cause or resignation for good reason, subject to conditions.
