Employment Offer Letter for Chief Accounting Officer between SIRVA and Daniel P. Mullin
This agreement is an employment offer letter from SIRVA to Daniel P. Mullin for the position of Chief Accounting Officer, reporting to the acting Chief Financial Officer. The offer includes an annual salary of $200,000, executive benefits such as a car allowance, financial planning, and an executive physical, as well as eligibility for an annual bonus under SIRVA’s Management Incentive Program. Employment is at-will, and the effective date is August 19, 2007. The letter requires Mr. Mullin’s acceptance and signature to confirm the terms.
Exhibit 10.1
August 23, 2007
Mr. Daniel P. Mullin
21W741 Clifford Place
Glen Ellyn, IL 60137
Dear Dan:
Congratulations! I am pleased to confirm the terms of our offer of Chief Accounting Officer reporting directly to Jim Bresingham, acting Chief Financial Officer.
Salary Band: Executive Band 17
Salary: $200,000. per year, payable in bi-weekly installments. The salary is quoted on an annual basis for convenience only and does not imply employment for a specific term, nor alter the “at will” status of your employment.
Additional Executive Benefits:
| Annual Car Allowance ~ |
| $ | 13,440 |
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| Financial Planning ~ |
| $ | 4,200 |
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| Executive Physical ~ |
| $ | 1,000 |
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Annual Bonus: You will eligible to participate in SIRVA’s Management Incentive Program, which at your position has an annualized bonus potential of 65% of base salary, subject to terms of the program. This payment will be subject to taxes and other withholdings, which may be required. SIRVA will guarantee the 10% individual component of your bonus, in the event you meet the specific goals, which will outlined for you.
Effective Date: August 19, 2007
I have enclosed a copy of this offer letter for your records. Please execute the original as indicated below and return it to me.
We believe you will continue to be challenged by this exciting opportunity. SIRVA is confident that your skills and knowledge will continue to be an asset to our organization. If you should have any questions, please feel free to contact me.
| Sincerely, | ||
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| /s/ René C. Gibson |
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| Senior Vice President Human Resources | ||
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| Accepted and Agreed to this 24th day of August, 2007 | ||
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| /s/ Daniel P. Mullin |
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