SPR Spirit Aerosystems Holdings Inc

As previously disclosed, on January 29, 2020, John Gilson resigned as Vice President, Controller and Principal Accounting Officer of Spirit AeroSystems Holdings, Inc. (the “Company”) and Spirit AeroSystems, Inc. (“Spirit”), the Company’s wholly owned subsidiary.

On April 3, 2020, the Company, Spirit and Mr. Gilson entered into a Resignation Agreement and General Release (the “Agreement”). Under the terms of the Agreement and in consideration of Mr. Gilson’s future cooperation, release of certain claims, and compliance with certain obligations, including confidentiality, non-competition, non-solicitation, and non-disparagement covenants, Mr. Gilson will receive separation payments comprised of the following: (i) a sum of $295,000, which is equal to one year of Mr. Gilson’s annual base salary that was in place on Mr. Gilson’s resignation date; (ii) a payment of Mr. Gilson’s expected award for 2019 pursuant to the Short-Term Incentive Program (the “STIP”) under the 2014 Omnibus Plan, as amended (the “Omnibus Plan”), based on actual performance; (iii) a lump sum of $20,000 for COBRA coverage over a 12 month period; (iv) vesting with respect to 471 shares under a time-based restricted stock award granted to Mr. Gilson in February 2018, and vesting with respect to 481 shares under a time-based restricted stock award granted to Mr. Gilson in February 2019, each pursuant to the Company’s Long-Term Incentive Plan under the Omnibus Plan, and (v) reimbursement of reasonable and documented career transition services through July 31, 2020.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which is filed as an exhibit hereto.