EX-10.3 4 aptvq12022ex103.htm EX-10.3
Exhibit 10.3
Kevin P. Clark
President and Chief Executive Officer
Personal and Confidential
September 1, 2020
William Presley
President, EDS
Dear Bill,
It is my pleasure to congratulate you on your promotion to President, Signal and Power Solutions in addition to your role as President, Electrical Distribution Systems. Your new role will be effective as of September 1, 2020 and you will continue to report to me.
In recognition of your new responsibilities, we will recommend to the Compensation and Human Resources Committee of the Board that you be appointed as an Executive Officer of the Company. We will also request the Committee approve an increase to your target compensation under the 2020 Compensation Plan as follows:

|  | Current |  | New | Change %
Base Salary |  | $525,000 |  | $625,000 | 19%
AIP | (85%) | $446,250 | (85%) | $531,250 | 19%
Target Total Cash |  | $971,250 |  | $1,156,250 | 19%
LTI |  | $1,100,000 |  | $1,700,000 | 55%
Target Direct Comp |  | $2,071,250 |  | $2,856,250 | 38%

Upon the Committee’s approval, the increase in Target Total Cash will be effective as of September 1 st. The LTI increase of $600,000 will be granted in October and awarded in the form of Restricted Stock Units that will vest ratably over three years commencing February 28, 2021.
Your appointment as an Executive Officer will require public disclosure with the U.S. Securities and Exchange Commission and you will be covered under Aptiv’s Stock Ownership Guidelines for Officers. David and Mariya will review and coordinate the disclosure and stock ownership guidelines with you.
Bill, your expanded role is well deserved and recognizes your exceptional leadership and your contributions to Aptiv’s success. I have full confidence that you will continue to provide great value to the organization and want to personally thank you for your commitment to Aptiv.
Sincerely,
Kevin P. Clark
To indicate your acceptance, please sign, date and return this letter to me.

Signature |  | Date

cc: David Sherbin
Mariya Trickett