Offer Letter for Promotion to Vice President, Chief Accounting Officer – Robert Potter and Company
This letter confirms the promotion of Robert Potter to Vice President, Chief Accounting Officer, effective May 29, 2008. He will receive a new annual salary of $200,000 and is eligible for an annual bonus of up to 35% of his salary, based on company and individual performance. The employment remains at-will, meaning either party can end the employment at any time. The offer is accepted by signing and returning the letter to Human Resources.
Exhibit 10.27
May 23, 2008
Robert Potter
2615 Ferndale Place NE
Renton WA 98056
Dear Rob:
In recognition of your achievements and dedication in helping to build our business, I am very pleased to promote you to Vice President, Chief Accounting Officer effective May 29, 2008, reporting to me.
As Vice President, Chief Accounting Officer, your new salary will be $200,000. In addition, you will be eligible to receive an annual target bonus of 35% of your annual salary, based on both company and individual performance. Depending on the level of company and individual performance, you may receive between 0% and 125% of this target amount. Your bonus compensation for subsequent years will be determined by the Board of Directors and the CEO. Your compensation package will be reviewed annually.
Please note that your employment continues to be at-will employment, which means that you have the right to terminate your employment at any time with or without cause or notice, and the Company reserves for itself the same right.
Congratulations, I look forward to a continued successful working relationship. Kindly indicate your consent to the terms of this offer letter by signing and returning a copy to Human Resources by May 30, 2008
Sincerely,
| /s/ |
| Dawn Lepore |
| President, CEO and Chairman |
| Agreed and accepted: | /s/ | Date: | 6/10/08 | |||||
| Robert Potter |
