Nordson Corporation Letterhead] April 7, 1988
CONFIDENTIAL
Mr. Edward P. Campbell 1700 Queen Anne's Gate Westlake, Ohio 44145
Dear Ed:
I am pleased to confirm my offer to you for the position of Vice President, Corporate Development for Nordson Corporation. In this key position, you will report directly to me. Your initial compensation and benefit package will be as follows:
COMPENSATION
BASE SALARY
Your initial base salary will be ONE HUNDRED FIFTY THOUSAND DOLLARS
($150,000) PER YEAR. Your Base Salary will be reviewed on November
1, 1988 and yearly thereafter, coinciding with an annual
performance review.
BONUS - A target bonus of fifty-five percent (55%) of Base Salary
has been established for your position under the Nordson Executive
Incentive Bonus Plan. As we discussed should you accept this
offer, you will be guaranteed the amount of the target Bonus for
Fiscal Year 1988, which ends October 30, 1988, prorated for the
part of Fiscal Year 1988 in which you are employed by Nordson. As
with all bonuses paid under the Plan, payment will be made in cash
not later than the first payroll date in January following the end
of a Fiscal Year. 2 Mr. E. P. Campbell -2- April 7, 1988
STOCK
In our discussions, I have stressed the goals for the Corporation. Achievement of these goals enhances the value of Nordson Common Stock. Your participation as a member of my team allows you to contribute to the achievement of these goals and share in the increased value of our stock as a reward for your efforts.
RESTRICTED STOCK
You will be granted 3,000 shares of Restricted Nordson Common Stock
when you commence your employment. Upon expiration of a three-year
restriction period, you will have full right, title and interest in
the Stock provided you are still an active Nordson employee. Under
the Restricted Stock Plan, you relinquish right, title and interest
in the Stock if your employment terminates prior to the expiration
of the restriction period.
...
*End of Preview*
Click the 'Add to Cart' button to download the complete and formatted agreement.