Exhibit 10.30
1100 Old Highway 8 NW New Brighton, MN 55112 Phone 651.636.4320
Fax 651.636.0312
www.apigroupinc.com
January 13, 2022
Ms. Kristina Morton
Edina, MN 55076
Dear Kristina,
Thank you for taking the time to meet with our team at APi Group. We believe that your leadership will add depth and breadth to our existing team. Additionally, we believe that you will be a great cultural fit with our APi Group family. I am personally excited to have you join the company.
The following are the highlights of our offer to you:
GENERAL
Position
Senior Vice President and Chief People Officer. It is a corporate operations and executive management position and carries both the authority and the responsibility for the entirety of APi Group’s human resource function.
Reports To
President/CEO of APi Group
Location
New Brighton, Minnesota. We highly value the collaboration and synergy fostered in a shared workplace. We also understand the value of some flexibility. I’m confident we can find the right balance for you and the company.
Position Summary
The Senior Vice President and Chief People Officer (CPO) will be primarily responsible for leadership development, talent, learning, organization development, business partnership, payroll, compensation, benefits, and human resources operations.
BUILDING GREAT LEADERSTM
This position will also be responsible for the development of all human resources policies and procedures for the company. This position will involve a great deal of interaction both internally at APi Group as well as externally with our operating companies and business partners.
Duties and Responsibilities
COMPENSATION & BENEFITS
Base Compensation
$450,000.00 Base Salary (through June 30, 2023, next review cycle).
Signing Bonus
$107,000 to replace the bonus that was forfeited by leaving your current employment.
Compensation Track
We have a “Pay for Performance” mentality in the APi Group companies, so our compensation philosophy relies heavily on the Management Incentive Plans. Base Salary increases in the future at this level are intended to be moderate with the idea that the incentive side of the equation is the most influential in increasing total compensation. Base salary increases in the future depend on performance, attitude, work ethic and management judgment of contribution to the goals of the company.
Incentive Bonus Plan
75% of base salary subject to APi Group meeting its performance targets of revenue and EBITDA, or other targets established for our short-term incentive plan.
Fringe Benefits
Per the APi Group Plan that will be forwarded under separate cover. Vacation time is 4 weeks vs. 2 weeks shown in the manual.
Car Allowance
A monthly car allowance of $750.
Up Front Restricted Stock Unit Award
We will recommend an equity award of $1,600,000 to be granted upon your employment date in restricted stock units (as of the grant date) to replace the RSU/PSU and options you forfeited by leaving your current employment. The award will be presented to the Compensation Committee for approval at its scheduled February meeting.
Long Term Incentive Plan – Equity
In addition, you will be eligible for annual equity awards under our long-term equity incentive plan. I will be recommending an annual grant equal to 150% of your base salary beginning in 2023. The award type(s) granted will align with our long-term incentive design for executives.
Additional Fringe Benefits
An individual disability contract under our APi Group Executive Disability program which provides coverage and benefits beyond the traditional group plan, provided you can meet the underwriting requirements of the carrier. In the event you cannot meet these requirements, you will be eligible for the group disability program that is offered to all non-executive personnel.
OTHER
Preemployment Conditions
In keeping with company policy, this offer is contingent upon satisfactory completion of a pre- employment drug test and background check.
Proposed Start Date February 7, 2022
Investment in Your Skills
Any management or technical industry skills that contribute to your personal growth and can add value to the company are both reimbursable and encouraged.
Support – APi Group and Corporate
We feel we have an excellent support group at the corporate level to assist you in your successful transition and role. You can obviously see we have a huge incentive in making this work for both the company and you. We will do everything possible to help facilitate your success.
This position should challenge your skills and allow you to deploy experience and expertise across a large organization. You have a lot of ability to bring to bear on this position and we think this is an excellent fit for our company. There is certainly an opportunity to make a great impact on the company in future years.
Thank you for the opportunity to discuss this position and present you with the offer. Please let me know if there are points in this offer that need further discussion or clarification.
We will make all efforts to help a successful transition and a long-term success for both you and the company.
Sincerely,
/s/ Russell A. Becker
Russ Becker
President / CEO APi Group Corporation
RB/gg