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EXHIBIT 10.4
Joseph Voelker
Senior V.P., Human Resources
Stanley Black & Decker, Inc.
1000 Stanley Drive
New Britain, CT 06053
December 22, 2014
John Wyatt
Avenue Cardinal Micara 88
1160 Brussels
Belgium 1831
Dear John,
I am pleased to confirm our offer to you for the position of President CDIY Global Sales & Marketing for
Stanley Black & Decker effective December 30, 2014. This position is based in Towson, MD and reports
directly to the Sr. Vice President and Group Executive CDIY.
This letter generally outlines our various benefits, practices and programs. The Company reserves the right to
modify these benefits, practices and programs from time to time, and where more specific documents exist,
such as insurance plan documents, the terms of the more specific document will be followed.
Base Salary and Executive Incentive & Stock-Based Compensation Plans
Your gross base salary will be USD $540,000 per year, paid monthly in 12 equal parts, representing an
approximately $40,000 increase over your current salary.
You will also participate in the CDIY Management Incentive Compensation Program (MICP) Level 2 per the
terms and conditions of the plan. While this plan is subject to change at any time, your target bonus is 50% of
your base salary with a 100% maximum of your base salary, payable in the spring following each MICP plan
year.
As a Level 2 employee, you will continue to participate in the Long-Term Performance Award Program
(LTPAP) under The Stanley Black & Decker 2013 Long-Term Incentive Plan for the performance period with
a target opportunity of 50% of your base, and a 100% of base maximum payout. This Program is intended to
provide financial rewards for specified full-time members of the Stanley Black & Decker executive team,
provided specific corporate goals are achieved during the Program’s three year measurement period. The
goals will be communicated to you in an individual letter.
As part of your annual compensation package, you will continue to be eligible to participate in the Annual
Equity Award Program. The grants are typically made in December of each year. Specific grant levels are
subject to annual review by the Compensation & Organization Committee of the Board of Directors. For the
December 2014 grant, your awards are expected to be comprised of approximately 10,000 Stock Options and
2,857 Restricted Stock Units (RSUs), which are estimated to have a fair value over $400,000.
In further recognition of your new position, you will also receive two special grants totaling 20,000 RSUs.
The grant date for the first 10,000 RSUs will be in February 2015 and these are scheduled to vest on
November 1, 2016. The second grant of 10,000 RSUs will occur in October 2016 and these are scheduled to
vest on November 1, 2018. These special grants have been approved by the Compensation & Organization
Committee of the Board of Directors, but are contingent on you being actively employed on the date of grant.