Letter, dated as of August 1, 2023, between the Company and Rajnish Ohri
EX-10.1 2 tm2323034d1_ex10-1.htm EXHIBIT 10.1
Exhibit 10.1
August 1, 2023
Rajnishi Ohri, via email
Dear Rajnish:
The details of your salary adjustments are as follow:
| Current | New | ||
| Effective Date: | N/A | August 1, 2023 | |
| Base Salary (USD) | $320,929.52 | $500,000* | |
| Incentive Target % | 60% | 100% | |
| Incentive Payout at Target | $192,557.71 | $500,000 | |
| Total Cash Compensation at Target | $513,487.23 | $1,000,000 | |
| Total Increase % | 95% |
*In addition to your base salary, you will continue to receive monthly car allowance.
In the event of a termination by the Company without cause, excluding death or disability, you shall be entitled to severance of 12 months Base salary (the “Severance Period”), payable during the Company’s normal payroll cycle. All other terms and conditions of the severance payments (as outlined in executed offer letter) will remain unchanged.
The other aspects of your compensation, benefits and employment terms will remain unchanged.
Should you have any questions, please do not hesitate to contact me.
Sincerely,
| Date | |||
| Rajnish Ohri | Date | ||
| Interim Co-CEO |
