10-K
TTEC HOLDINGS, INC. filed this Form 10-K on 03/06/2019
Entire Document
 

Executive and Senior Financial Officers, and in accordance with all other material policies and procedures.

 

d.   Mr. Pollema’s role with the company may require extensive travel and Mr. Pollema understands and agrees that such travel is a material part of his responsibilities.  Mr. Pollema shall travel in accordance with TTEC Parent travel policy. Notwithstanding the provisions of the travel policy to the contrary, the Company agrees that Mr. Pollema will be permitted to travel in business class for international travel exceeding 6 hours in duration.

 

e.   Notwithstanding other provisions in this Agreement, Mr. Pollema understands and agrees that his role and responsibilities may change over time in the best interest of the business, and TTEC Parent reserves the right, subject to provisions of Paragraph 6(j) to assign to Mr. Pollema different roles and assignments that best serve the business.

 

2.         COMPENSATION.

 

a.   Salary and Periodic Salary Review.  As of the Effective Date, Mr. Pollema’s base salary is $350,000 per year (“Base Salary”), payable in equal installments in accordance with the Company’s standard payroll practice, less legally required deductions and withholdings.  Mr. Pollema’s Base Salary may be periodically reviewed and adjusted, at CEO’s discretion, to appropriately reflect Mr. Pollema’s role in the business, the contribution of the role, and the market pay for such role in accordance with TTEC standard compensation review practices. Notwithstanding the foregoing, nothing in this Agreement provides assurances that Mr. Pollema’s salary will be increased from time to time.

 

b.   Variable Incentive Compensation (annual cash bonus).  As of the Effective Date, Mr. Pollema is eligible to participate in an annual performance based cash incentive program, currently referred to as TTEC Variable Incentive Plan (“VIP”).  As of the Effective Date, Mr. Pollema’s annual VIP opportunity currently shall be up $350,000 tied to the annual targets and goals of the business as set by the CEO and TTEC’s Board of Directors.  Mr. Pollema’s annual VIP award will be based on a combination of metrics set-out and annually approved by TTEC and by the Board.  At present these metrics include (1) TTEC-wide results of operations; (2) Technology and Information Group’s (TIG’s) specific performance results; (3) TTEC Digital Technology results of operations; and (4) the Employee’s individual performance against agreed goals related to the execution of TTEC Parent's long-term and short-term plans to meet its strategic and financial goals.

 

In addition, the Compensation Committee of the Board may, but shall not be obligated to, adjust the Employee’s VIP award upward based on the Company’s and the Employee’s function’s overperformance against annual metrics set by the Board and deemed to be that year’s business imperatives, such as but not limited to annual bookings, revenue, operating income, backlog, and cash flow.

 

The timing for the payment of the VIP award, if any, is determined from time to time by the Compensation Committee annually.

 

c.   Annual Equity Grant.  Mr. Pollema is also eligible to participate in TTEC’s annual Equity program, designed to provide long term incentives for senior executives of the Company and align their interests with company stockholders.  Currently, TTEC offers its equity grants in the form of restricted stock units, vesting over a period of years (the “RSUs”). Mr. Pollema is, and until and unless modified by the Compensation Committee of the Board, shall be eligible for an annual equity grant opportunity of up to $525,000 in fair market value of TTEC equity, based on