Offer Letter of Employment between Angie's List and Michael M. Holt, dated July 24, 2006
This agreement is an offer letter from Angie's List to Michael M. Holt for the position of Vice President. It outlines an annual base salary of $175,000, a potential $50,000 bonus, fully paid family medical insurance, 10 days of paid vacation, a company-paid cell phone, and weekly flight reimbursement. If terminated without cause, Mr. Holt will receive three months of severance pay. The letter also confirms that his board rights remain unchanged. The agreement is effective upon acceptance and signature by Mr. Holt.
Exhibit 10.17
July 24, 2006
Michael Holt
[personally identifiable information withheld]
Dear Michael,
On behalf of Angie’s List, I am pleased to offer you the position as Vice President. As compensation for your employment you will receive a base pay of $175,000 annually, with the opportunity to earn a $50,000 annual bonus if target objectives are met.
As a member of the Senior Management team of Angie’s List, your family medical insurance premiums will be 100% paid by the company for our base plan. You may choose our buy-up medical plan, although you would be responsible for paying the difference in premiums between the two plans. In addition, you will receive 10 days of paid vacation time per year.
In addition, we will provide a company-paid cell phone and will provide reimbursement for the cost of one round trip flight per week to/from your home. Your Angie’s List Board rights will remain unchanged by your employment at Angie’s List.
In the event your employment at Angie’s List is terminated without cause, you will be offered a severance for a period of three months following the termination.
Welcome to Angie’s List, Michael. I am confident that you will make a tremendous contribution to our growing organization, and that you will find working for Angie’s List a rewarding experience. Our entire team is looking forward to your arrival.
| Sincerely, |
| /s/ Bill Oesterle |
| BILL OESTERLE |
| CEO |
(To indicate your acceptance of this offer, please sign and return to me at 1030 E. Washington Street, Indianapolis, IN 46202)
| /s/ Michael Holt | Date | 7-27-06 | ||||
| Accepted by Michael Holt | ||||||
Angie’s List Headquarters
1030 E. Washington St. • Indianapolis, IN 46202 • (317) 297-5478 • Fax: (317) ###-###-#### www.angieslist.com
