Employment Offer Letter between PhyMatrix and Bryan Dieter for Chief Information Officer Position

Summary

This agreement is an employment offer from PhyMatrix to Bryan Dieter for the role of Chief Information Officer. It outlines a base salary of $200,000, a 20% bonus potential, and an initial equity grant of 100,000 shares with a three-year vesting period, which accelerates if there is a major change in company control. The offer includes standard benefits, severance of one year’s salary under certain conditions, and comprehensive relocation assistance. The agreement is effective upon Bryan Dieter’s acceptance and signature.

EX-10.24 4 ex-10_24.txt EXHIBIT 10.24 Exhibit 10.24 January 20, 1999 Mr. Bryan Dieter 142 Acorn Lane Shelburne, VT 05482 Dear Bryan: We are very pleased to extend an offer of employment to you for the position of Chief Information Officer, PhyMatrix. The terms are as follows: Base Salary: $200,000 Bonus Potential: 20% (based on both company and personal performance metrics). Equity: a. 100,000 (initial grant) with 3 year vesting period. The vesting period will be accelerated with material change in control of company. Benefits: Per PhyMatrix policies Severance: A. One year of base compensation for termination without cause; or B. One year base compensation as a result of a material change in responsibilities or reporting relationships. Relocation: 1. Pack and move of household goods. 2. Closing costs at sell end, including realtors fees. 3. Two house hunting trips for family. 5. $10,000 in temporary living expenses for residence, transportation, meals, etc. Receipts for expenses need to be submitted for reimbursement. 5. Tax gross up for taxable relocation items. We are very excited about the prospect of working with you and look forward to you joining our team. Best Regards, Michael Heffernan I acknowledge and agree to the terms stated above. Bryan Dieter