Employment Offer Letter for EVP/General Counsel Position at UMBFC to John
This letter from UMB Financial Corporation (UMBFC) offers John the position of Executive Vice President and General Counsel, effective June 6, 2016. The role reports to the Chairman, President, and CEO. John will receive a $250,000 annual salary, paid weekly, and is eligible for both the 2016 Short Term Incentive Program (targeted at 35% of base pay) and the 2017 Long Term Incentive Program (targeted at 50% of base pay), subject to board approval and plan terms.
Exhibit 10.4
June 1, 2016
Dear John,
It is our pleasure to extend an offer to you as EVP/General Counsel effective, Monday, June 6, 2016. The position will report to Mariner Kemper, Chairman, President and CEO UMBFC
This letter is to confirm the following details of our offer:
| • | A salary at a gross annual rate of $250,000. Such salary shall be payable over 52 weeks as earned and in accordance with the Company’s standard payroll procedures. |
| • | Eligibility to continue participation in the 2016 Short Term Incentive Program (STIP) contingent upon approval by the Board Compensation Committee, subject to all terms of the plan at a target of 35% of base pay. |
| • | Eligibility to participate in the 2017 Long Term Incentive Program (LTIP) contingent upon approval by the Board Compensation Committee, subject to all terms of the plan at 50% of base pay. |
Please contact me if you have any questions.
Congratulations on your new position! We wish you continued success in your UMB career.
Sincerely,
Mariner Kemper
Chairman, President and CEO UMBFC
I have read and accept the terms and conditions of this job offer.
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