The Meet Group Change of Control Retention Bonus Letter Agreement
The Meet Group is offering a bonus to a valued employee as a reward for their contributions during the company's proposed sale process. The bonus, calculated as a percentage of the employee's base salary, will be paid if the sale of the company closes before September 1 and the employee remains employed at the time of payout. The bonus is not guaranteed and does not ensure continued employment. The agreement is intended to recognize the employee's efforts during the transition period.
Exhibit 10.1
February 6, 2020
Dear _____________:
You are a valued member of The Meet Group and we greatly appreciate your contributions, dedication, and continued commitment during the Company’s proposed sale process.
As a token of our appreciation, you are being granted a bonus of ___% of your base salary payable at the time of a closing of the sale of the Company (resulting in a change of control) to _____________. As we may have discussed, we expect to close any such deal before September 1 of this year, although that would remain subject to receiving the necessary shareholder and regulatory approvals.
This bonus is contingent on your continued employment at the time of payout, there is no guarantee of this bonus payout, and this bonus does not constitute a guarantee of continued employment.
You are a critical part of the team, and it is our hope that this bonus helps to convey the Company’s appreciation of your efforts.
If you have any questions, please do not hesitate to contact me.
Sincerely,
Katie Taylor
VP of Human Resources
