Howmet Aerospace Inc. has announced a new amendment to the employment agreement of its Executive Chairman and CEO, John C. Plant. Effective July 1, 2025, the company will grant Mr. Plant a special retention award consisting of restricted stock units valued at $45 million, set to vest on July 1, 2028. This award is contingent on Mr. Plant's continued service until the vesting date, with provisions for prorated or full vesting in the event of his death, disability, or termination without cause. Additionally, Mr. Plant will maintain an annual base salary of $1.8 million and will participate in the company's annual incentive plan, with a target bonus of 175% of his base salary, alongside eligibility for annual equity awards. The existing terms of Mr. Plant's employment remain largely unchanged except for the new amendment.
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