Enerpac Tool Group amends CEO Paul Sternlieb's offer letter on retirement terms
Enerpac Tool Group amended the offer letter of President and CEO Paul Sternlieb, setting out how his equity and cash incentives would be treated if he retires after a specified date, with a retirement date no earlier than July 31, 2030. The amendment also raises his change-in-control and severance benefits, which the company says is meant to keep him in the role and support a leadership transition.
Key points
- Amendment dated October 26, 2026 sets a retirement notice period of 180 days, with windows starting in February 2030.
- Severance multiples rise to 2 times base salary and annual incentive from 1.5 times; welfare premium coverage rises to 24 months from 18 months.
- Legal fee reimbursement limits rise to $50,000 from $10,000 for enforcing severance terms, plus up to $50,000 for negotiating the amendment.
- The amendment does not change Mr. Sternlieb's base salary, target bonus, or annual long-term equity award opportunity.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 7, 2026, 11:17 PM ET, from the text of the filing and its press-release exhibits only.
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