Offer Letter for Promotion to Vice President, Chief Finance Officer – Tracy Wright and Company
This letter promotes Tracy Wright to Vice President, Chief Finance Officer, effective May 29, 2008, with a new annual salary of $200,000 and eligibility for an annual bonus of up to 35% of salary, based on company and individual performance. The bonus may range from 0% to 125% of the target amount, with future bonuses determined by the Board and CEO. Employment remains at-will, allowing either party to end the relationship at any time. Tracy is asked to accept the offer by signing and returning the letter.
Exhibit 10.28
May 23, 2008
Tracy Wright
4421 240th Pl SE
Bothell WA, 98021
Dear Tracy:
In recognition of your achievements and dedication in helping build our business, I am very pleased to promote you to Vice President, Chief Finance Officer effective May 29, 2008, reporting to me.
As Vice President, Chief Finance 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, 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: | 6/30/08 | |||||
| Tracy Wright |
