Promotion and Compensation Agreement between Ellie Mae and Brian Brown (Senior Vice President, General Counsel)

Contract Categories: Human Resources › Employment Agreements
Summary

This letter agreement confirms the promotion of Brian Brown to Senior Vice President, General Counsel at Ellie Mae, effective January 1, 2016. Brian's new base salary is set at $260,000, and he is eligible for an annual bonus of 40% of his base salary. He will also receive $525,000 in equity, split equally between Restricted Stock Units and Performance Share Units. The agreement outlines the terms of his new role and compensation, and is accepted by Brian Brown and signed by the CEO, Jonathan Corr.

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EX-10.30 2 ex1030-brianbrownpromotion.htm EXHIBIT 10.30 Exhibit


February 10, 2016

To:     Brian Brown
From:     Jonathan Corr, Chief Executive Officer
Cc:     Lisa Bruun
    
Dear Brian,
You’ve done a tremendous job providing effective leadership and guidance of the legal team. I am pleased to be able to promote you the position of Senior Vice President, General Counsel effective January 1, 2016.
Effective January 1, 2016, your new base salary is $260,000. You are eligible to participate in the Annual Short Term Incentive (STI) Bonus Plan at a new rate of 40% of your base salary.
As part of the promotion you will be issued a grant date fair value of $525,000 of equity, which will be split 50/50 between Restricted Stock Unit (RSU) and performance Share Unit (PSU) in accordance with the senior executive performance share program.
We appreciate your service and contributions, and I am confident you will be successful in your new position at Ellie Mae.
Sincerely,

/s/ Jonathan Corr                 February 10, 2016
Jonathan Corr                             Date
Chief Executive Officer

I accept this offer of employment as outlined in this letter.

/s/ Brian Brown                 February 10, 2016
Brian Brown                             Date