Employment Offer Letter for Chief Financial Officer Jeff Bird
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Summary
This agreement is an employment offer to Jeff Bird for the position of Chief Financial Officer, effective December 1, 2014. It outlines his base salary, short-term and long-term incentive compensation, onboarding incentives, and vacation entitlement. Jeff Bird will receive a monthly base salary, performance-based incentives, restricted stock units with vesting schedules, and onboarding bonuses. The agreement also specifies vacation time and that certain incentive targets will be determined by the Compensation Committee. The offer was accepted by Jeff Bird on December 1, 2015.
EX-10.20 4 a12312014-ex1020.htm EXHIBIT 10.20 12.31.2014 - Ex 10.20
Exhibit 10.20
 EMPLOYMENT OFFER | |
EMPLOYEE: | Jeff Bird | |
POSITION / TITLE: | Chief Financial Officer | |
HIRE DATE: | Dec. 1, 2014 | |
BASE COMPENSATION: | $33,333.33 per month | |
$15,384.61 per paycheck (bi-weekly) | ||
STI: | 87.5% of Base at 100% of Target | |
($350,000) | ||
LTI: | $750,000 at 100% of Target | |
RSUs; 3 year graded vesting | ||
EBITDA/ROIC GOALS: | EBITDA (or other selected targets) and payout ranges for STI and LTI TBD by Compensation Committee for 2015. | |
ONBOARDING INCENTIVE: | $375,000 cash | |
$187,500 paid upon hire | ||
$187,500 April 2015 | ||
$375,000 RSUs | ||
2 Year vesting with one year Clawback | ||
VACATION: | 3 weeks beginning January 2015 and thereafter | |
ACCEPTED: | /s/ Jeff Bird | December 1, 2015 | ||
Jeff Bird | Effective Date | |||
