Compensation Package Term Sheet - J. Michael Mayer
Contract Categories:
Human Resources
- Compensation Agreements
EX-10.17 3 h28942a4exv10w17.htm COMPENSATION PACKAGE TERM SHEET - J. MICHAEL MAYER exv10w17
Exhibit 10.17
Joseph Michael Mayer Compensation Package Term Sheet
Base Annual Salary | $250,000 | |||
Incentive Bonus @ Plan | $150,000 | E-30%, EV-60%, OA-90% | ||
Stock Options-Annual | # TBD | multiple of base salary | ||
Car Allowance-Annual | $9,600 | |||
Normal Severance | 12 months(a) | |||
Vacation-Annual | 4 weeks |
| (a) | severance is for involuntary termination “not for cause” as defined in J. Winkler’s 2005 employment agreement; severance is 12 months base salary and bonus at EV; bonus for year of termination is pro-rated at EV (or higher based on actual results); and all stock options and restricted stock become 100% vested. |
Effective Date | December 1, 2005 | |||
/s/ Joe Winkler | /s/ J.M. Mayer | |||
Approved: | Accepted: | |||
Joe Winkler | J.M. Mayer | |||
Date 2/23/06 | Date 2/23/06 |
