Offer Letter of Eric Remer, dated October 24, 2016
Exhibit 10.14
October 24, 2016
Eric Remer
1695 Orchard Avenue
Boulder, CO 80304
This is a letter understanding that outlines the key terms of your employment with PaySimple.
Compensation:
Base Salary: Initial salary for the remainder of 2016 in this position will remain at $295,000 annually, less applicable withholdings, payable bi-weekly. Salary will be re-evaluated for 2017.
Annual Bonus: Target bonus is 45% of base salary (again for 2016) and will be based upon bonus schedule provided in the data room (attached).
Deal Bonus: Participation in a deal bonus pool that will be calculated as 2% of enterprise value of each completed acquisition. I will receive a minimum of 33% of the deal bonus pool (as will Marc) which will be allocated base upon Eric Remer and Marc Thompson mutual agreement.
Incentive Compensation: The Company shall has issued described in the documents attached as Exhibits (Will add but it is just the common stock, restricted stock and the 2016 equity incentive plan that have all been granted).
Benefits:
I will be eligible to participate in PaySimple benefit plans. Your benefits package at the time of this offer will include:
Health: Cigna Health Insurance (we fully cover the cost of all PaySimple full-time employees on our H.S.A. plan option, with the option to buy up to our PPO plan, plus 50% of the cost of dependent coverage)
Health Reimbursement: You will be reimbursed your annual premiums in a one-time bonus every January
Dental: Voluntary through Delta Dental PPO
Vision: Voluntary through Cigna Vision
Short Term Disability: We fully pay for a short term disability policy for all full-time employees through Lincoln Financial.
Long Term Disability: Voluntary through Lincoln Financial.
Supplemental: Voluntary Accident through AllState
401(k): Great West
FSA Flexible Spending Accounts (Medical/Dental/Vision and Dependent Care): Rocky Mountain Reserve
Wellness Stipend: $100/month (toward your gym, other wellness membership)
Time away from work
Three weeks of annual vacation with no carryover: You will earn one additional vacation day for every year of service at PaySimple.
Five personal/flex days Can be used for either pre-planned time off or as sick days
Two sick days
Reasonable Expenses Reimbursement: You will be reimbursed all reasonable expenses attributable to PaySimple responsibilities.
Holidays: PaySimple observes New Year’s Day, Memorial Day, Independence Day, Labor Day, Thanksgiving and Christmas as paid holidays for full time employees as well as your birthday as a paid holiday.
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/s/ Mark Hastings | |
Mark Hastings |
/s/ Eric Remer | January 1, 2017 | ||
Eric Remer | Date |
Copyright PaySimple © 2012 | Page | 3 |
These materials are provate and confidential |