Restoration Hardware Offer Letter for Vice President, Corporate Controller – Vivian Macdonald
Restoration Hardware offers Vivian Macdonald the position of Vice President, Corporate Controller, with an annual salary of $175,000 paid bi-weekly. She will be eligible for the company's Management Incentive Program, with details to be provided later, and will receive a grant of 20,000 stock options vesting over four years according to company guidelines. The letter confirms her promotion and outlines the main terms of her new employment.
Exhibit 10.2
April 16, 2003
Ms. Vivian Macdonald
Dear Vivian:
We are pleased to promote you to the position of Vice President, Corporate Controller of Restoration Hardware.
Below are the key details of the offer.
| Title |
| Vice President, Corporate Controller |
|
|
|
|
| Salary |
| $175,000 per year, paid bi-weekly. |
|
|
|
|
| Management Incentive Program |
| You will be eligible to participate in the Management Incentive Program. Details of the program to be finalized at a later date. |
|
|
|
|
| Stock Option Grant |
| 20,000 shares, as part of the annual stock option plan. The stock options will vest over a 4-year period, with the terms being in accordance with the administrative guidelines of the company’s stock option plan. |
Vivian, you are a valuable member of the organization and we are looking forward to your continuing contributions to Restoration Hardware.
Sincerely,
| /s/ Kevin Shahan |
| /s/ Gary Friedman |
|
|
|
|
| Kevin Shahan |
| Gary Friedman |
| Vice President, Chief Financial Officer | | President and Chief Executive Officer |
Þ I understand and agree to the terms of this offer of employment:
| /s/ Vivian Macdonald | | 4/16/03 | |
| Vivian Macdonald | | Date | |
cc: Associate’s file
2
