Promotion and Stock Option Grant Letter between Atossa Genetics and Scott Youmans
Atossa Genetics is promoting Scott Youmans from Senior Vice President, Operations to Chief Operating Officer, effective September 1, 2015. As part of this promotion, Mr. Youmans will receive an annual salary of $287,040 and be granted an option to purchase 50,000 shares of Atossa Genetics common stock, vesting over four years. The letter acknowledges Mr. Youmans' contributions and outlines the terms of his new role and compensation.
Exhibit 10.1
 | 2345 Eastlake Ave E, Suite 201 Seattle, WA 98102 Office: 800 ###-###-#### Fax: 206 ###-###-#### www.atossagenetics.com |
September 1, 2015
Scott Youmans
[******]
[******]
*Hand Delivered
Dear Scott,
A significant factor in our success at Atossa Genetics is our people and the effort and talent they bring to the workplace. In recognition of this importance, we are pleased to inform you that you will be promoted from Sr. Vice President, Operations to Chief Operating Officer, effective September 1, 2015. This is a Section 16 Officer position and the annual rate of pay will be $287,040. In addition, you will be granted an option to purchase 50,000 shares of Atossa Genetics common stock at the closing price on the date approved by the board, which vests over four years of employment with no cliff.
In your time with Atossa, you have quickly demonstrated your work ethic, dedication, and your superb qualifications. We have faith that you will continue to excel in your new position and hope that you continue to develop your potential here at Atossa Genetics.
Congratulations on this promotion, and we look forward to your contributions in your new position.
Thank you for being such a valuable asset to Atossa Genetics and for your loyal service.
Sincerely,
/s/ Steven C. Quay, MD, PHD, FCAP
Steven C. Quay, MD, PHD, FCAP
CEO and President
| /s/ Scott Youmans | 09/01/2015 | |
| Acknowledgement of receipt – Scott Youmans | Date |
