Leadership & Pay ·
Enerpac Tool Group amends CEO Paul Sternlieb’s retirement terms to retain him through 2030
EPACEnerpac Tool Group Corp
Enerpac Tool Group Corp. entered into a First Amendment to the Offer Letter with President and Chief Executive Officer Paul Sternlieb on October 26, 2026. The amendment establishes a structured retirement framework requiring 180 days' notice during specific annual windows, starting in February 2030, to retain Mr. Sternlieb through at least July 31, 2030. While base salary and target incentive opportunities remain unchanged, the agreement accelerates vesting for unvested restricted stock units (RSUs) and performance-based RSUs upon retirement notice and guarantees full annual bonus payouts based on actual company performance. It also enhances Change in Control protections by increasing severance multipliers from 1.5x to 2x base salary and incentive amounts, extending welfare benefits coverage to 24 months, and raising legal fee reimbursements to $50,000. Enerpac Tool Group Corp. manufactures hydraulic tools and industrial equipment.