Offer letter, dated
EX-10.14 4 a202210-kexhibit1014.htm EX-10.14 Document
November 4, 2022
Damien Schmitz
Via Email
Dear Damien,
Congratulations! On behalf of Groupon, Inc., (“Groupon”) I am pleased to inform you that you
have been appointed to Chief Financial Officer, reporting to Groupon’s CEO, Kedar Deshpande,
in Chicago, IL, effective November 7, 2022 (“Effective Date”).
In accordance with this change, your annualized base salary will be $550,000 less
withholdings and deductions. Your new position is exempt from overtime pay, so your salary
will compensate you for all hours worked. Groupon utilizes a semi-monthly payroll (24 pay
periods per year).
For avoidance of doubt, you will no longer be eligible for the monthly stipend you were eligible
to receive in connection with your appointment as Interim Chief Financial Officer, and your last
monthly stipend payment will be in November 2022.
Annual Bonus Plan: You will continue to be eligible to participate in the Annual Bonus Plan
(the “ABP”) according to the terms and conditions as outlined in the ABP. Your Target Bonus
under the ABP will increase to 100% of your base salary. Your Bonus Payout, if any, will be
prorated based on your Effective Date, and will usually be paid on or before April 30th of the
year following the performance year, provided you are continuously employed on the date of
payment. Please refer to the ABP for more detail on how your Bonus Payout, if any, will be
Prorated.
Severance Benefit Agreement (“SBA”): You will be eligible to receive severance benefits in
accordance with the enclosed Severance Benefit Agreement (“SBA”), which, following your
execution thereof, will take effect on your Effective Date. Once executed, this SBA supersedes
the Severance Benefit Agreement you signed on October 12, 2021.
This offer is in consideration for your continued employment and contingent upon your
acknowledgement and agreement of our Confidentiality, Intellectual Property and Restrictive
Covenants Agreement (“CIPRA”).
All other terms of your employment at Groupon, including your “at will” employment, remain
unchanged. Groupon reserves the right to modify the terms of your compensation in the future.
Thank you very much for your contribution to Groupon. Please contact hr@groupon.com if you
have any questions about the information above.
Sincerely,
Kedar Deshpande
Chief Executive Officer
Groupon, Inc.
