Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
CDW Corporation ("CDW" or the "Company") today announced that Ilaria Mocciaro
will be joining the Company as its Vice President, Controller and Chief
Accounting Officer on September 8, 2020. Ms. Mocciaro, age 49, will join CDW
from Anixter International where she served as Senior Vice President - Global
Controller and Chief Accounting Officer from November 2016 through August 2020.
Prior to Anixter International, Ms. Mocciaro served as Chief Accounting Officer
for the Agricultural Equipment and Construction Equipment segments of CNH
Industrial from 2013 - 2016 and as its Director, Technical Accounting and
Reporting from 2011 - 2013. She also served as Director, Internal Audit at
McMaster-Carr Supply Company from 2010 - 2011 and in various positions up to
senior manager at Ernst & Young LLP from 1998 - 2010. Ms. Mocciaro is a graduate
of the Universita' Cattolica del Sacro Cuore in Milan, Italy and is a Certified
Public Accountant.
Ms. Mocciaro will receive a base salary of $375,000, an annual bonus target
under the Company's Senior Management Incentive Plan of $200,000, prorated for
2020 and with a guaranteed minimum bonus for 2020 equal to the prorated target,
and an annual target award under the Company's Long-Term Incentive Plan of
$185,000, prorated for 2020. Additionally, she will receive a one-time sign-on
equity award with a target value as of the grant date of $116,667. Ms. Mocciaro
also will participate in the Company's Vice President and Director-level
Management Compensation Protection Plan (the "Plan"), which provides six months
of severance payments and benefits and outplacement in the event of a qualifying
termination under the Plan. As a condition to her participation in the Plan,
Ms. Mocciaro will execute a Noncompetition Agreement that includes six-month
noncompetition and twelve-month nonsolicitation restrictions and provisions
regarding confidentiality and intellectual property. If she breaches the
Noncompetition Agreement, all severance payments and benefits under the Plan
cease and she must repay to the Company all severance payments and benefits
received under the Plan.
Ms. Mocciaro has no family relationships with any director, executive officer or
person nominated or chosen by the Company to become a director or executive
officer of the Company, and there are no transactions between Ms. Mocciaro and
the Company that would be required to be reported under Item 404(a) of
Regulation S-K.
Neil B. Fairfield, Vice President, Controller and Chief Accounting Officer, will
be stepping down from his current position when Ms. Mocciaro joins the Company
and will continue to provide services to the Company until March 2021 to assist
with transition.
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