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Teledyne Technologies Inc. – ‘8-K’ for 1/26/21 – ‘EX-10.3’

On:  Wednesday, 1/27/21, at 12:35pm ET   ·   For:  1/26/21   ·   Accession #:  1094285-21-18   ·   File #:  1-15295

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  As Of               Filer                 Filing    For·On·As Docs:Size

 1/27/21  Teledyne Technologies Inc.        8-K:5,9     1/26/21   15:290K

Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                      HTML     47K 
 7: EX-10.1     Material Contract                                   HTML     21K 
 8: EX-10.2     Material Contract                                   HTML     10K 
 9: EX-10.3     Material Contract                                   HTML     11K 
11: R1          Document                                            HTML     47K 
13: XML         IDEA XML File -- Filing Summary                      XML     13K 
10: XML         XBRL Instance -- tdy-20210126_htm                    XML     23K 
12: EXCEL       IDEA Workbook of Financial Reports                  XLSX      6K 
 3: EX-101.CAL  XBRL Calculations -- tdy-20210126_cal                XML      7K 
 4: EX-101.DEF  XBRL Definitions -- tdy-20210126_def                 XML      9K 
 5: EX-101.LAB  XBRL Labels -- tdy-20210126_lab                      XML     67K 
 6: EX-101.PRE  XBRL Presentations -- tdy-20210126_pre               XML     34K 
 2: EX-101.SCH  XBRL Schema -- tdy-20210126                          XSD     12K 
14: JSON        XBRL Instance as JSON Data -- MetaLinks               12±    18K 
15: ZIP         XBRL Zipped Folder -- 0001094285-21-000018-xbrl      Zip     23K 


‘EX-10.3’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



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AMENDMENT NUMBER 1
TO EMPLOYMENT AGREEMENT
AS OF JANUARY 26, 2021
THIS AMENDMENT NUMBER 1 (“Amendment”) to the EMPLOYMENT AGREEMENT (the “Employment Agreement”) is made and entered into as of January 26, 2021, by and between the Company and the Executive. Capitalized terms used in this Amendment without definition have the meaning given to such terms in the Employment Agreement.
RECITALS
WHEREAS, this Amendment is an amendment to the Employment Agreement made and entered into on October 23, 2018; and
WHEREAS, in 2021, the Company is transitioning to a new, overlapping three-year Performance Plan (“Performance Plan” or “PP”) with payouts, if any, following closure of each performance period.
NOW, THEREFORE, in consideration of the respective covenants and agreements hereinafter set forth, and intending to be legally bound, the parties hereto agree as follows:
SECTION 4.b.(2) of the Employment Agreement is amended as follows (with changes in bold and red text):
PSP/PP. In the PSP at an opportunity equal to 300% of Base Salary if targets are reached at 100%, or such greater percentage if provided in the PSP for any measurement period. The applicable percentage for Executive’s current 2018-2020 PSP award shall be prorated, with this increased percentage effective as of January 1, 2019. Effective January 1, 2021, the Company is transitioning to a Performance Plan, with overlapping three-year, all cash performance periods, with cash payouts, if any, following as soon as practical following the closing of the performance period. As a result of this change, Executive will participate in the PP at an opportunity equal to 100% of Base Salary if targets are reached at 100%. Installment payments and participation in the prior 2018-2020 PSP cycle are governed by their separate plan documents and the Employment Agreement.
Except as expressly amended hereby, the Employment Agreement remains in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment to the Employment Agreement as of the day and year first written above.
EXECUTIVE


TELEDYNE TECHNOLOGIES INCORPORATED

Chair, Personnel and Compensation Committee





Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
Filed on:1/27/21425,  8-K
For Period end:1/26/214
1/1/21
1/1/193
10/23/188-K
 List all Filings 


9 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/23/24  Teledyne Technologies Inc.        10-K       12/31/23  122:15M
 2/24/23  Teledyne Technologies Inc.        10-K        1/01/23  120:17M
 2/25/22  Teledyne Technologies Inc.        10-K        1/02/22  113:18M
 4/12/21  Teledyne FLIR, LLC                DEFM14A                1:3.2M                                   Donnelley … Solutions/FA
 4/12/21  Teledyne Technologies Inc.        DEFM14A                1:2.8M                                   Donnelley … Solutions/FA
 4/12/21  Teledyne Technologies Inc.        424B3                  1:2.7M                                   Donnelley … Solutions/FA
 3/26/21  Teledyne Technologies Inc.        S-4/A                  8:2.9M                                   Donnelley … Solutions/FA
 3/04/21  Teledyne Technologies Inc.        S-4                    6:2.8M                                   Donnelley … Solutions/FA
 2/26/21  Teledyne Technologies Inc.        10-K        1/03/21  119:19M
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Filing Submission 0001094285-21-000018   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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