Item 5.02 - Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On November 17, 2021, the Human Resources and Compensation Committee (the
"Compensation Committee") of the Bunge Limited ("Bunge" or the "Company") Board
of Directors approved an amendment to the terms of Mr. Brian Zachman's
employment agreement to extend the term of the agreement from December 31, 2021
until December 31, 2022 on the same terms and conditions, provided that: from
January 1, 2022 through March 31, 2022, Mr. Zachman will ensure a smooth
transition of his responsibilities to other members of the senior executive
team, and per the terms of his employment agreement he will receive a pro-rated,
long-term incentive award in March 2022 with a fair market value of $500,000
under the Company's equity program. Further, effective April 1, 2022 through
December 31, 2022 Mr. Zachman will become a risk management advisor to the
Company's Chief Executive Officer. The compensation arrangements and other terms
applicable to Mr. Zachman's anticipated services as an advisor to the Chief
Executive Officer include a base salary of $10,000, payable monthly, from April
1, 2022 through December 31, 2022. The Compensation Committee will determine
whether Mr. Zachman will receive any incentive compensation for any period of
his employment following 2021. Mr. Zachman will cease to be an Executive Officer
of the Company pursuant to Item 401(b) of Regulation S-K effective January 1,
2022.
"We are incredibly grateful for the contributions Brian has made as we moved to
a more global operating model. His insights helped strengthen our value chain
approach, which has improved our risk management and driven a focus on earnings
at risk," said Greg Heckman, Chief Executive Officer. "When he rejoined Bunge in
2019, Brian committed to working with us for three years. In this time, he has
strengthened our foundation in risk management, which will help ensure Bunge
reaches its full potential."
Item 9.01 - Financial Statements and Exhibits.
(d): Exhibits.
Exhibit No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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