EX-10.36 11 a05-4897_1ex10d36.htm EX-10.36

Exhibit 10.36

 

General Terms of Employment between Hercules Incorporated and Certain Executive Officers.

 

The following information summarizes certain terms of employment under which Hercules Executives – namely Craig A. Rogerson, Fred G. Aanonsen, John Y. Televantos, Israel J. Floyd, Allen A. Spizzo, Paul C. Raymond and Richard G. Dahlen – are employed.

 

      Basis of Employment - Employment at Will (except as modified by Change in Control Agreements in effect as listed herein)

 

Eligible for non-guaranteed base salary, annual bonus and long term incentive awards

 

      Base Salaries - Reviewed for adjustment upon change in job/position or each March 1.  Increases based on performance and pay level and are not guaranteed.

 

      Variable Annual Incentive – performance based, no guaranteed payout

 

      Long Term Incentive Awards – Grants based on position level.  No guaranteed grant or award value.

 

      Benefits – Participate in plans applicable to all salaried employees in U.S. on same basis and same benefit structure as all salaried employees.

 

      Others – Mr. Rogerson is provided on a periodic basis a driver to transport him to and from home and/or meetings depending on business reasons. Upon joining Hercules, Messrs. Aanonsen, Televantos, and Raymond received employment offer letters which are set forth in the Exhibits.