Pay Reduction Agreement between TaskUs and CEO Bryce Maddock (March 2020)
TaskUs and its CEO, Bryce Maddock, have agreed to temporarily reduce his base salary from $350,000 to $45,000 for the remainder of 2020 due to the COVID-19 pandemic. This change is effective as of March 16, 2020, and only affects his base pay for that year. All other employment terms remain unchanged, and salary payments will follow standard payroll practices with required deductions.
Exhibit 10.11
CONFIDENTIAL
March 26, 2020
Pay Change Memo
Dear Bryce,
Effective 3/16/2020, you have agreed to reduce your base compensation in light of the COVID-19 Pandemic. Your base pay for the remainder for 2020 will be $45,000. Below you will find details of this change:
| Title | CEO | |||
| Current Base Salary | $ | 350,000.00 | ||
| Effective as of 3/16/2020 | $ | 45,000.00 |
This memo only affects your base pay for 2020. You will be paid in accordance with TaskUs’ standard payroll practices and subject to all withholdings and deductions as required by law. All other terms and conditions of your employment remain the same.
I have read and understand the provisions of this memo.
Agreed to and accepted by:
| /s/ Bryce Maddock | 3/27/2020 | |||
| Bryce Maddock | Date |
