RigNet Inc. Retention Bonus Agreement with Charles “Chip” Schneider (March 28, 2017)
RigNet Inc. offers Charles “Chip” Schneider a retention bonus equal to his current base salary of $325,000, paid in two installments of $162,500 each. The payments are scheduled for March 31, 2018, and March 31, 2019. This bonus recognizes his ongoing contributions and expanded responsibilities at the company. The agreement is signed by RigNet’s CEO, Steven Pickett.
Exhibit 10.16
March 28, 2017
Charles “Chip” Schneider
***@***
Dear Chip:
It is with pleasure that I extend to you a Retention Bonus in the amount of one times of your current base pay of $325,000.00 to be paid in two equal installments.
You will receive the payments based on the following payment schedule to be paid not later than the dates listed.
| a. | March 31, 2018 in the amount of $162,500.00 |
| b. | March 31, 2019 in the amount of $162,500.00 |
This offering is in recognition and appreciation of your continued focus on driving overall success; as well as to recognize your efforts in the expanded role and the additional responsibilities that you have taken over since joining RigNet. I appreciate your hard work and dedication to the company.
Sincerely,
| /s/ Steven Pickett |
| Steven Pickett |
| Chief Executive Officer and President |
| RigNet Inc. |
15115 PARK ROW, SUITE 300 HOUSTON, TEXAS 77094 PHONE ###-###-#### FAX ###-###-#### http://www.rig.net
