Annual Merit Increase and Bonus Payment Memorandum between Privia Health and Parth Mehrotra
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Summary
This memorandum confirms Parth Mehrotra's promotion to President & Chief Operating Officer at Privia Health, effective March 24, 2021, with an increased annual base salary of $475,000. It also documents a bonus payment of $885,512 for the 2020 fiscal year and outlines eligibility for a performance-based incentive plan for 2021. The memo states that all terms are as described and can only be amended in writing, with no other promises made outside this document. Parth's existing employment agreement remains unchanged except as specified here.
EX-10.4 3 exhibit104-parthmehrotrame.htm EX-10.4 Document
 | Privia Health | |||||||||||||
| 950 N Glebe Road, Suite 700 | ||||||||||||||
| Arlington VA, 22203 | ||||||||||||||
Memorandum
TO: Parth Mehrotra
FROM: hr@priviahealth.com
DATE: 03/12/2021
SUBJECT: Annual Merit Increase & Bonus Payment Memo
Dear Parth,
Thank you for helping make 2020 a banner year for Privia Health. This memo serves to confirm that your new title will be President & Chief Operating Officer. Your base salary has increased from
$412,000.00 to $ 475,000.00 per annum ($19,791.67 per pay period) subject to deductions for taxes and other withholdings as required by law or by Company policy. These changes will be effective March 24, 2021 and reflected in your April 15th paycheck. Your bonus payout for the 2020 fiscal year is $885,512, which is equivalent to 215% of your bonus potential, to be paid out on March 12, 2021. This is a result of the 2020 annual review process and career committee and reflective of the communications you have had thus far with your Manager.
Additionally, you will remain eligible to participate in Privia’s performance-based incentive plan which gives you the potential to earn up to an additional 100% of your 2021 base salary. Payout amounts for performance-based bonuses are determined by individual performance determined by the achievement of your KO’s and the results of your annual performance review and Career Committee process.
This memo, which contains our entire understanding, can be amended only in writing, and is intended to be signed by you and Jenny Harding, Senior Vice President, People Operations. You specifically acknowledge that no promises or commitments have been made to you that are not set forth. Except as outlined above, your employment agreement remains intact without change.
Congratulations, Parth! We look forward to your continued success at Privia and to the contributions you continue to make to our growing organization.
| /s/ Jennifer Harding | ||||||||
| Jennifer Harding, SVP, People Operations | ||||||||
