August 25, 2020
Mr. Jeffrey Trigilio
On behalf of Cullinan Management, Inc. (hereinafter referred to as the Company), I am pleased to set forth the terms of your employment with the Company:
1. You will be employed to serve as, the Chief Financial Officer, reporting to the Companys Chief Executive Officer. You will be responsible for duties that are consistent with such a position. You agree to abide by the rules, regulations, instructions, personnel practices and policies of the Company and any changes therein that may be adopted from time to time by the Company. Your anticipated start date is September 8, 2020, or sooner by mutual agreement.
2. Your base salary will be $375,000 on an annualized basis, payable in installments in accordance with the Companys customary payroll procedures and applicable law, and subject to deductions and withholdings as required by law.
3. Following the end of each fiscal year and subject to the approval of the Companys Board of Directors, you will be eligible for a performance bonus of up to 30% of your base salary, based on your individual performance and the Companys performance during the applicable fiscal year, as determined by the Board in its sole discretion in accordance with certain milestones to be mutually agreed upon between you and the Board each year. You must be an active employee of the Company on the date any bonus is distributed in order to be eligible for and to earn a bonus award.
4. Subject to the terms and conditions thereof and all eligibility requirements, you may participate in any and all benefit programs that the Company establishes and makes available to its employees from time to time, including but not limited to: medical, dental, vision, 401(k), group and AD&D insurance, short-term disability, long-term disability, and EAP / Travel Assistance. You will also be eligible for vacation in accordance with the Companys current vacation policy. The benefit programs made available by the Company, and the rules, terms and conditions for participation in such benefit programs, may be changed by the Company at any time without advance notice.