Glenn Coleman Promotion Compensation Agreement Summary
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Summary
This agreement outlines the compensation terms for Glenn Coleman's promotion, approved by the company's Compensation Committee. Effective December 1, 2016, Mr. Coleman's base salary is set at $525,000. Starting January 1, 2017, he is eligible for an annual bonus equal to 75% of his base salary. Additionally, he will receive a one-time equity award of $350,000 in stock options, which will vest three years after the grant date.
EX-10.1 2 exhibit_10x1xdecemberx5x20.htm EXHIBIT 10.1 Exhibit
EXHIBIT 10.1
Glenn Coleman Promotion Summary
The Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of the Company approved incentives in connection with Mr. Coleman’s promotion, detailed in a summary below, which became effective December 1, 2016.
Summary
Base Salary: $525,000.00
Bonus: 75% of base salary, effective starting January 1, 2017 for the performance year 2017.
One-time Equity Award: $350,000 as soon as administratively possible following the effective date of new position. This award will be granted as stock options, vesting on the third anniversary of the grant date.
