Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Amendment to Employment Agreement with Helmut D. Pirthauer
On January 7, 2025, Heidrive GmbH (“Heidrive”), a wholly-owned subsidiary of Allient, Inc. (the “Company”), and Helmut D. Pirthauer, Vice President and Group President, executed a Third Amendment (the “Amendment”) to the Managing Director’s Contract of Employment (as amended, the “Employment Agreement”). The Amendment is effective as of December 18, 2024. The relevant provisions of the Amendment are discussed below.
Term. Unless terminated earlier in accordance with its terms, the Employment Agreement will remain effective until December 31, 2027.
Base Salary. Mr. Pirthauer’s annual base salary is €325,000 for 2024; €360,000 for 2025; €408,000 for 2026 and €432,000 for 2027.
Annual Cash Incentive Bonus at Target. The target annual cash incentive bonus will be €126,000 for 2024. Thereafter, the target bonus will be 40%, 45% and 45% of annual base salary for 2025, 2026 and 2027, respectively.
The foregoing is a summary description of the terms and conditions of the Amendment and is qualified in its entirety by reference to the Amendment, a copy of which will be filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:January 10, 2025
ALLIENT INC.
By: /s/ James A. Michaud
James A. Michaud
Senior Vice President & Chief Financial Officer
