Promotion and Compensation Adjustment Letter for David Arroyo from BuzzFeed, Inc.
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Summary
This letter from BuzzFeed, Inc. notifies David Arroyo of his promotion to Chief Legal & Compliance Officer and Corporate Secretary, effective January 1, 2023. His annual base salary will increase from $315,000 to $375,000, and his bonus target will rise from 40% to 50% of his base salary, subject to company and individual performance. All other employment terms remain unchanged, and this letter supersedes any prior agreements regarding these changes.
EX-10.15 2 3 exhibit10152davidarroyopro.htm EX-10.15 2 Document
Exhibit 10.15.2
David Arroyo
11/9/2022
Dear David,
Congratulations! We are pleased to inform you that you will be promoted effective January 1, 2023. Please review the following changes:
| Current Details | New Details | |||||||
| Base Pay | $315,000.00 USD annually | $375,000.00 USD annually | ||||||
| Business Title | SVP, Chief Compliance Officer & Head of Litigation | Chief Legal & Compliance Officer | Corporate Secretary | ||||||
| Level | 11 | 13 | ||||||
| Manager | Rhonda Powell | Marcela Martin | ||||||
| Bonus | 40% | 50% | ||||||
Bonus Compensation for each calendar year will be in the amount of 50% of base salary as of
January 1, 2023. Any award will be determined through a combination of
overall BuzzFeed performance and your own individual goals and competencies. Determinations as to the achievement of Bonus Compensation targets will be in the sole discretion of the Company.
Nothing else regarding your employment is changing at this time; your employment with the Company continues to be subject to your Offer of Employment and PIIA. This letter constitutes the entire agreement between you and the Company regarding the subject matter of this letter, and it replaces and supersedes any other agreements, representations or understandings between you and the Company regarding its subject matter.
Best,
The People Team
