ITEM 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On March 31, 2023, MasTec, Inc. (the "Company") entered into an amended and
restated employment agreement with George Pita (the "Pita Agreement"), which is
effective as of April 1, 2023 (the "Effective Date"), relating to Mr. Pita's
continued provision of services to the Company following his previously reported
retirement from his position as the Company's Executive Vice President and Chief
Financial Officer. The Pita Agreement amended and restated in its entirety
Mr. Pita's previous agreement with the Company, dated January 23, 2014, as
amended on March 31, 2014 (the "Prior Agreement"). The Pita Agreement provides
that Mr. Pita will be paid an annual base salary of $400,000 but that he will
not be entitled to participate in the Company's bonus plan for senior
management, receive equity awards, nor be eligible for an annual performance
bonus. All currently outstanding equity awards granted to Mr. Pita will continue
to be subject to the terms and conditions set forth under the applicable award
documents and the Company's equity incentive plans, as in effect and as they may
be amended from time to time. The Pita Agreement also contains confidentiality,
non-competition and non-solicitation provisions, which are substantially
identical to those contained in the Prior Agreement, except that the non-
competition and non-solicitation provisions have been extended to the later of
one year following Mr. Pita's employment termination date and March 10, 2026.
The foregoing description of the Pita Agreement is only a summary and is
qualified in its entirety by reference to the full text of the Pita Agreement,
which will be filed as an exhibit to the Company's next quarterly report on Form
10-Q.
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