On September 7, 2016, Hexcel Corp. entered into a separation and consulting agreement with Ira J. Krakower, its Executive Vice President, General Counsel & Secretary. Pursuant to the agreement, Mr. Krakower will remain an active employee of the Company until March 31, 2017, and will retain his current title during this period until such time as a new Executive Vice President, General Counsel & Secretary is appointed, at which time Mr. Krakower's title will change to Special Counsel to the Chief Executive Officer. From April 1, 2017 until December 31, 2017, Mr. Krakower will provide consulting services on an as-needed basis to support the transition to his successor.