Attached files
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| 8-K - VALMONT INDUSTRIES INC | vmi8k_july1.htm |
EXHIBIT 99.1
VIK BANSAL COMPENSATION SUMMARY
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1.
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Named by the Board of Directors as Chief Operating Officer effective July 1, 2014.
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2.
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Base Salary: $575,000 per year
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3.
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Continued participation in Valmont's 2014 Global EIP Annual Incentive Plan with a target of 60% of base salary (using new base salary from start date as COO) and capped at 3x target.
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4.
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Continued participation in the performance share element of Valmont's 2012-2014,
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2013-2015, and 2014-2016 long-term incentive plans, with a target of (i) 70% of prior base salary for 2012-2014 and (ii) 85% of base salary (from start date as COO) for 2013-2015 and 2014-2016 and capped at 2x target.
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5.
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Continued participation in the stock option element of Valmont's long-term incentive plans, with eligibility for option grant in December 2014 with a target value of 85% of base salary.
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6.
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Participation in Valmont's non-qualified deferred compensation plan, VERSP 401 (k) plan, health and welfare benefit plans.
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