Executive Vice President Product Promotion and Compensation Adjustment Letter – Ancestry.com Inc. and Eric Shoup
This letter confirms Eric Shoup's promotion to Executive Vice President Product at Ancestry.com Inc., effective February 13, 2012, with a retroactive salary increase to $275,000 annually from January 1, 2012. He will also be eligible for a target bonus of 60% of his salary, based on company and individual performance. All other employment terms remain unchanged. Eric is required to sign this letter and an Agreement to Protect Company Property to accept the new compensation package.
EXHIBIT 10.2
March 9, 2012
Eric Shoup
Dear Eric:
I am pleased to congratulate you on your February 13, 2012 promotion to Executive Vice President Product for Ancestry.com Inc. (the “Company”), to be based in our office in San Francisco, California, reporting to the Chief Executive Officer. In recognition of this new role, we propose the following adjustment to your compensation.
| Salary: | $275,000 annualized, payable semi-monthly according to normal company payroll policy. This salary increase will be effective retroactive to January 1, 2012. |
| Bonus: | A target of 60% of salary based upon company and individual performance goals per the terms and conditions of the Company’s Performance Incentive Program. |
Other than the salary adjustment indicated above, this letter does not change any terms or conditions of your employment arrangement as addressed in the March 2010 letter and the July 2010 and April 2011 amendments.
Please signify your acceptance of these adjustments to your compensation package by signing below and by signing and returning the attached Agreement to Protect Company Property.
If you have any additional questions, please feel free to contact me at (801) ###-###-####.
Sincerely,
/s/ Tim Sullivan
| Tim Sullivan CEO | /s/ Eric Shoup | |||||
| Ancestry.com Inc. | Eric Shoup | |||||
