Employment Offer Letter for Chief Claims Officer between First Mercury Financial Corporation and Terry Fleckenstein

Contract Categories: Human Resources › Employment Agreements
Summary

First Mercury Financial Corporation offers Terry Fleckenstein the position of Chief Claims Officer with a base salary of $265,000, an annual bonus of 50% of base salary (with $100,000 guaranteed for 2008), a long-term incentive of 35% of base salary, and a sign-on bonus of 10,000 restricted stock shares vesting over three years. The offer includes standard company benefits, potential inclusion in the stock option plan, reimbursement of moving expenses, and a non-solicitation clause effective during employment and for one year after termination.

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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
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
Page 2
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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