EX-10.44 6 exhibit1044.htm EX-10.44
Exhibit 10.44
1101 Market Street, Chattanooga, Tennessee 37402
July 24, 2025
Thomas C. Rice
Dear Mr. Rice,
This letter is to notify you of your new title, EVP & Chief Financial Officer, as well as changes to your compensation, effective July 28, 2025. The compensation components for your role are as follows:
Your salary will be $705,000.
Your Executive Annual Incentive Plan (EAIP) opportunity will remain unchanged.
You will be issued new Long-Term Incentive Performance (LTI-P) grants in the amount of
$1,302,000 for the FY24-26 cycle and $1,302,000 for the FY25-27 cycle. Each is based on a target award of $1,302,000 for your role. These grants will replace the previously awarded FY24-26 and FY25-27 LTI-P grants. Your existing FY23-25 LTI-P grant will remain in place and will vest and pay out as prescribed in the respective grant notice. Actual LTI-P payouts will be based on scorecard results.
You will be issued new Long-Term Retention (LTI-R) grants in the amount of $393,666 for the FY24-26 cycle and $558,000 for the FY25-27 cycle, based on a target award of $558,000 for your role. These grants replace the previously awarded FY24-26 and FY25-27 retention grants. More details of your new retention grants will be provided in new retention grant notices. Your FY23-25 retention grant will remain in place and will vest and pay out as prescribed in the respective grant notice.
Regards,
/s/ Donald Moul
Donald Moul
President & Chief Executive Officer
cc: Executive Compensation Human Resources