Catherine B. Hall Chief Marketing Officer Offer Agreement
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Summary
This agreement outlines the terms of employment for Catherine B. Hall as Chief Marketing Officer, reporting to the CEO. She will receive a $195,000 base salary, subject to review after the company's IPO, a bonus of 40% of her salary based on performance, and 40,000 stock options at a $2.10 strike price. If terminated without cause, she is entitled to severance and accelerated vesting of stock options. Additional benefits include paid healthcare, four weeks of vacation after eight months, and a start date of April 28, 2014.
EX-10.8 13 v389460_ex10-8.htm EXHIBIT 10.8
Exhibit 10.8
Catherine B Hall: Offer Agreement
| · | Position: Chief Marketing Officer |
| · | Reports to: Chief Executive Officer |
| · | Base Salary : $195,000 to be reviewed on first fiscal anniversary following the IPO in conjunction with normal pay practices and reviews. ( on or about January 2015) |
| · | Bonus : 40% of base salary based on measurable objectives –prorated for first year (x/12 eg., in FY 2014 8/12 of 40% = 26.6% ) paid at end of fiscal year in accordance with normal pay practices. |
| · | Stock Options : 40,000 pre IPO incentive stock options at a $2.10 strike price subject to board approval and terms and conditions of the company stock option plan. Includes acceleration of vesting if terminated without “cause” or resign for “good reason”, or change of control. |
| · | Benefits in event employment if terminated other than for cause subject to company policy as follows : |
| ° | 2 weeks severance for each year of service prorated on a straight line basis consistent with company policy. |
| · | 4 weeks vacation, annually after 8 months of service. |
| · | Paid health care |
| · | Start date 4/28/2014 |
| Agreed | ||||
| /s/ John B. Richards | 5/1/2014 | /s/ Catherine B. Hall | 4/24/14 | |
| John B. Richards (date) | Catherine B. Hall (date) | |||
