First Amendment to Employment Agreement between Nutrisystem, Inc. and Dawn M. Zier (January 2, 2015)
This amendment updates the employment agreement between Nutrisystem, Inc. and Dawn M. Zier. It changes the terms of Ms. Zier's annual bonus, setting her target bonus at 100% of her current base salary and increasing the maximum bonus percentage from 150% to 200%. All other terms of the original agreement remain unchanged. Both parties have agreed to these new terms as of January 2, 2015.
Exhibit 10.4
January 2, 2015
Ms. Dawn M. Zier
[Address Redacted]
Dear Dawn:
Reference is hereby made to the letter agreement between us dated November 1, 2012 (the “Agreement”). The parties hereby agree to amend the Agreement as of the date first set forth above on the terms set forth in this letter agreement (this “First Amendment”).
With respect to the provisions in the Agreement set forth opposite the caption labelled “Annual Bonus Opportunity for 2013 and Later Years”, (i) the first sentence thereof is hereby deleted in its entirety and replaced with the following: “Target annual bonus will be 100% of then current Base Salary”; and (ii) the second sentence thereof is hereby amended to delete the percentage “150%” referenced therein and to replace it with the percentage “200%.” Except as expressly amended by this First Amendment, the terms of the Agreement are unchanged and remain in full force and effect.
To acknowledge your agreement with the foregoing, please sign this First Amendment in the space provided below and return it to me. Please retain a copy for your records.
| Sincerely, |
| /s/ Michael P. Monahan |
| Michael P. Monahan |
| Executive Vice President and CFO |
Agreed and accepted:
| /s/ Dawn M. Zier |
| Dawn M. Zier |
