Albany International Corporation has announced new compensation terms for Mr. Valashinas, who will assume the role of Vice President, Controller, and Principal Accounting Officer effective June 9, 2025. His initial base salary is set at $335,000 per year, subject to adjustments similar to those of other executive officers. Additionally, he will be eligible for a short-term incentive award under the 2023 Long Term Incentive Plan, with potential earnings of up to 200% of a target award based on company performance metrics. Mr. Valashinas will also receive long-term incentive awards, including performance share units and restricted stock units, tied to performance goals over a three-year period. He is entitled to four weeks of paid vacation annually and can participate in the company's employee benefit plans.
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