Promotion and Compensation Memorandum for Mark E. Jones, Jr. as Chief Financial Officer
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Summary
This memorandum confirms the promotion of Mark E. Jones, Jr. to Chief Financial Officer, effective immediately. It outlines his new annual salary of $265,000, eligibility for an annual bonus of up to $125,000, and a grant of 65,000 stock options vesting over three years. Additional annual stock option awards may be granted at the Board's discretion based on performance. Mark E. Jones, Jr. will report to the CEO, Mark Jones. The agreement is effective upon acceptance by Mark E. Jones, Jr.
EX-10.1 2 a20220911-ol.htm EX-10.1 Document
MEMORANDUM
To: Mark E. Jones, Jr.
From: Mark E. Jones and Peter Lane
Date: September 11, 2022
| Subject: Promotion | ||
On behalf of the Board of Directors, we are pleased to confirm the company’s offer to promote you to Chief Financial Officer, effective immediately. This memo confirms the compensation-related elements of your promotion.
•Salary - $265K annually
•Bonus – potential of up to $125K annually
•Incremental stock option award of 65,000 stock options with an exercise price equal to the closing price of GSHD on the first day of an open trading window after your acceptance of our offer. All stock options will vest 1/3rd on the first, second and third anniversary of the award
•Annual stock option awards at the discretion of the Compensation Committee of the Board based on your performance
•Reporting to Mark Jones as CEO
Accepted:
/s/ Mark E. Jones, Jr
Mark E. Jones, Jr.
Date: 9/11/2022
