(Dollars in thousands
EX-10.34 2 k48528exv10w34.htm EX-10.34 exv10w34
Exhibit 10.34
June 27, 2008
Mr. Terry Fleckenstein
32759 Pine Circle
Temecula, CA 92592
32759 Pine Circle
Temecula, CA 92592
Dear Terry:
I am pleased to offer you the position of Chief Claims Officer for First Mercury Financial Corporation with the following compensation and benefits:
Base Salary: | $265,000 | |
Bonus: | 50% of Base Salary Annually $100,000 Guaranteed for 2008, Paid in March 2009 | |
Long-Term Incentive: | 35% of Base Salary | |
Sign-On Bonus: | 10,000 Shares of Restricted Stock to be vested over three (3) years | |
Benefits: | Standard company benefits, including health, dental, 401K, etc. Inclusion in Stock Option Plan as determined by the company Board of Directors. | |
Non-Solicitation: | During employment and for a period of one (1) year following termination, you will not solicit customers or employees of FMFC or its affiliates. | |
Moving Expenses: | FMFC will reimburse you for all related moving expenses — to be settled at a later date. |
Mr. Terry Fleckenstein
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June 27, 2008
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June 27, 2008
I am very excited about you joining our organization.
Sincerely,
| FIRST MERCURY FINANCIAL CORPORATION Richard H. Smith Chairman, CEO & President | ||||
RHS:ee
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