Employment Agreement Update for Sarit Firon – Eyeblaster, Inc.
This letter confirms the updated compensation package for Sarit Firon, approved by the Compensation Committee of Eyeblaster, Inc., effective January 1, 2010. Sarit will receive an annual salary of $250,000, a quarterly bonus of $16,000, and a commission based on global revenue targets, with increased rates for revenue exceeding $80 million. Additionally, Sarit is granted an option to purchase 15,000 shares, with further details to follow. The agreement outlines the key terms of Sarit's compensation for 2010.
Exhibit 10.17
January 2010
Sarit Firon
New York
Dear Sarit:
I am pleased to confirm the compensation approved for you by the Compensation Committee of the Board. It is effective January 1, 2010
| 2010 | 2009 | |||||
| Annual Salary | $ | 250,000 | $ | 212,000 | ||
| Quarterly Bonus | 16,000 | 16,000 | ||||
| Commission OTE | 40,000 | 24,400 | ||||
| Total 2010 Compensation | $ | 354,000 | $ | 300,400 | ||
Your Commission is based on the Global Revenue target for 2010 of $80,000,000. Your commission rate is 0.050%. Should Eyeblaster exceed the revenue target your commission rate on the amount that exceeds will be 0.075%
The Committee also approved an option grant of 15,000 for you. Details and documents on the grant will come to you in the next several weeks
| All the best, |
| /s/ Gal Trifon |
| Gal Trifon CEO |
| cc: | Maureen McGovern |
