Hepsworth Employment Status Change Letter Agreement between Interactive Data and Mark Hepsworth
This agreement, dated November 8, 2010, is between Interactive Data and Mark Hepsworth. It confirms Mark's change from a UK contract employee on secondment in the US to a regular US employee, effective November 1, 2010. His base salary is set at $420,000, with specified bonus targets for 2010 and 2011. Expatriate allowances end, but tax assistance continues until his 2011 filings are settled. The agreement clarifies that employment is at-will and that Mark is eligible for US employee benefits. It supersedes all prior agreements, including his UK contract.
Exhibit 10.30
November 8, 2010
Mark Hepsworth
6 Armstrong Lane
Riverside, CT 06878
Dear Mark:
This letter confirms your change in status from an UK contract employee seconded in the US to that of a US regular employee. This change is effective November 1, 2010 and it supersedes any other agreement in place including your Secondment Extension Letter of October 30, 2007.
Your base salary, effective November 1, 2010 will be $420,000. Your bonus target for 2010 is 66.67%. Your bonus target for 2011 will be 75%.
All allowances provided to you as an expatriate cease as of November 1, 2010. However, you remain eligible for tax preparation and filing assistance through such time as your 20IItax filings are settled in the US and UK Any reimbursements to you, or fees paid to a third party on your behalf, related to this assistance will be treated as income and include gross up for taxes.
This letter is not intended to create a contract or a guarantee of employment for any particular period of time. Your employment will be “at will”, which means that either you or the company may end the employment relationship at any time with or without notice. Your UK employment contract, and any provisions contained within, is not longer in effect.
You will be eligible as of the effective date of this change to participate in the Interactive Data 401(k) Plan as well as to continue in other US benefit programs that Interactive Data provides to similarly situated employees from time to time.
To confirm your understanding of the items outlined in this letter, please sign below and return a copy of this letter to me.
Sincerely,
/s/ Peg Murphy
Peg Murphy
Vice President Human Resources
Phone: 781 ###-###-####
Fax: 781 ###-###-####
Accepted and Agreed:
/s/ Mark Hepsworth
| NAME | DATE: | November 17, 2010 |
