/s/ Hugh Sawyer / by EAB/s/ Andrew Lacko Hugh SawyerAndrew Lacko President & CEO
EX-10.R 7 rgs-2017x0630xex10r.htm EX-10(R)* Exhibit
Exhibit No. 10(r)*
[Regis Corporation letterhead]
June 16, 2017
Mr. Andrew Lacko
[address]
Dear Andrew,
This is provided to confirm the financial terms of our offer of employment as Executive Vice President and Chief Financial Resources Officer of Regis Corporation.
Effective date: July 1, 2017
Recurring Compensation:
• | Base salary: $495,000 |
• | Perk compensation: $32,000 |
• | Annual Bonus Opportunity: 60% of base compensation |
• | Equity Grant August 2017: $400,000 (Estimate: 60% PSU’s and 40% RSU’s consistent with company policy). |
Total Estimated Recurring Compensation (assuming future equity grants): $1,224,000
One-Time Compensation:
• | Moving Costs: Up to $50,000 based on actual receipts |
• | Real Estate Commission: Up to $50,000 should you sell your home in the first year of employment |
• | Signing Bonus: $125,000 |
• | Additional Equity Award: $350,000 (in form of RSU’s priced at DOH) |
One-Time Compensation: $575,000 (assuming full payment of moving costs and real estate commissions).
I am delighted to have you join our executive management team and look forward to serving with you in the years ahead. Please sign below to indicate your approval.
Sincerely,
/s/ Hugh Sawyer / by EAB | /s/ Andrew Lacko | ||
Hugh Sawyer | Andrew Lacko | ||
President & CEO | |||
