On September 13, 2023, Coherent Corp. and Mary Jane Raymond, the Company?s Treasurer and principal financial officer mutually agreed that she would conclude her services as the Company?s CFO as of September 29, 2023. On September 13, 2023, the Company and Ms. Raymond entered into a Transition Services and Final Agreement.

Pursuant to the Transition Agreement, Ms. Raymond will remain employed by the Company in a full-time, non-executive role during the period (the ?Transition Period?) beginning on the Effective Date and generally continuing until April 1, 2024, at which time she will automatically separate from service with the Company. During the Transition Period, Ms. Raymond will report to the Company?s Chief Executive Officer (?CEO?) and perform those tasks as may be reasonably requested by the CEO. On September 13, 2023, the Board of Directors of the Company appointed Richard Martucci (age 55), the Company?s Senior Vice President, Business Operations, to serve as Treasurer and principal financial officer, effective as of September 30, 2023 and until a permanent successor is identified.

Pursuant to the terms of Mr. Martucci?s Offer Letter, dated September 13, 2023 and accepted by Mr. Martucci on September 13, 2023, Mr. Martucci will receive, in addition to his current salary, a monthly stipend of $15,000 for his service in his interim role and the CEO will recommend to the Compensation and Human Capital Committee of the Board of Directors that he receive a special one-time retention equity award, to be granted on November 28, 2023, under the Company?s then current Amended and Restated 2018 Omnibus Incentive Plan, consisting of Coherent Corp. restricted stock units with a value of approximately $500,000, which will vest over a two-year period at a rate of 50% on the first anniversary of the grant date and 50% on the second anniversary of the grant date (subject to continued full-time employment). The preceding summary of the Offer Letter is qualified in its entirety by reference to, and should be read in connection with, which is incorporated herein by reference.

Prior to his appointment as Interim CFO, Mr. Martucci served as Senior Vice President, Business Operations from October 2022 to September 2023; as Vice President and Controller, Compound Semiconductors Segment from July 2019 to September 2022; as Vice President and Controller Lasers Solutions Segment From December 2017 to June 2019.