Eargo, Inc. Chief Financial Officer Employment Agreement with Mark Thorpe (Effective January 5, 2024)
Eargo, Inc. has offered Mark Thorpe the position of Chief Financial Officer, effective January 5, 2024. Under this agreement, Mark will report to the Chief Executive Officer and receive an annual salary of $335,000, paid semi-monthly. He will also be eligible for a 50% incentive bonus based on achieving specified goals. All existing company benefits and eligibility remain unchanged. The agreement was approved by the Board of Directors and accepted by Mark Thorpe on December 20, 2023.
Exhibit 10.1
December 20, 2023
Mark Thorpe
(sent via DocuSign)
Dear Mark:
On behalf of Eargo, Inc., (the “Company”), and following the approval of the Company’s Board of Directors, we are pleased to offer you a new position within the Company as Chief Financial Officer (CFO), effective January 5, 2024. The details and terms associated with the new position are listed below:
Job Title: Chief Financial Officer (CFO)
Department: Executive
Reports into: Chief Executive Officer
Employment Type: Exempt, Full Time
Compensation: Annual salary of $335,000 that will be paid semi-monthly in accordance with the Company’s normal payroll procedures.
Incentive/
Bonus plan: You will transition to the 50% bonus plan, which will be paid in accordance with obtaining the goals outlined in any applicable plan document.
Benefits: All Company benefits and your benefit eligibility remain unchanged with your change in position.
Sincerely,
/s/ William Brownie
William Brownie
Interim Chief Executive Officer and Chief Operating Officer
Agreed to and accepted:
Signature: /s/ Mark Thorpe
Printed Name: Mark Thorpe
Date: December 20, 2023
