Amendment to Employment Offer Letter between KAYAK Software Corporation and Melissa Reiter
This letter amends the original employment offer between KAYAK Software Corporation and Melissa Reiter. Effective November 1, 2010, Melissa's base salary increases to $260,000 per year, her annual bonus eligibility rises to 50% of her base pay, and she will receive a $100,000 lump sum bonus after KAYAK's IPO, which must be repaid if she resigns within six months of the IPO. If not named CFO by December 31, 2012, and she resigns with at least two months' notice after that date, she will receive six months' salary and a pro-rated bonus as severance.
Exhibit 10.65
55 North Water Street, Suite 1
Norwalk, CT 06854 / USA
P +1 ###-###-#### / F +1 ###-###-####
March 6, 2012
Melissa Reiter
Norwalk, Connecticut
Dear Ms. Reiter:
In connection with your employment with KAYAK Software Corporation (“KAYAK”), pursuant to that certain offer letter dated September 30, 2009, (the “Offer Letter”), your employment terms with KAYAK are hereby amended (this amendment letter together with the Offer Letter, the “Amended Offer”), effective as of November 1, 2010, such that: (i) your base salary was increased to $260,000 on an annualized basis, (ii) your annual incentive bonus was increased to up to 50% of your base compensation, (iii) you will be entitled to a lump sum bonus of $100,000 payable within 45 days following completion of KAYAK’s initial public offering, provided, however, that such amount must be repaid by you to KAYAK should you elect to terminate your employment with KAYAK within six months following KAYAK’s initial public offering and (iv) you shall be entitled to six months base salary and a pro rated bonus payment as severance in the event you are not named Chief Financial Officer by December 31, 2012, and upon not less than two months notice, you elect to terminate your position with KAYAK at any time following December 31, 2012.
Except as specifically set forth in this Amended Offer, all other terms and conditions of your Offer Letter remain in full force and effect. By accepting this Amended Offer, you agree and acknowledge that you have not relied, and are not relying, on any oral or written statements, promises or representations made by any employee, agent, or representative of KAYAK that are not expressly set forth in the Amended Offer.
Please do not hesitate to contact me if you have any questions.
| Sincerely, |
| KAYAK Software Corporation |
| /s/ Steve Hafner |
| Steve Hafner CEO & Cofounder |
| Acknowledged and Agreed: |
| /s/ Melissa Reiter |
| Melissa Reiter Dated: 3/6/12 |
KAYAK.com | KAYAK.com/mobile
KAYAK.com | KAYAK.com/mobile
