Letter Agreement, dated as of August 15, 2019, between Virtu Financial Operating LLC and Hyungtaek (Henry) Kim

This amendment (the “August 2019 Amendment”) will modify certain aspects of your employment from your current offer letter, dated March 25, 2011 (the “Offer”) between you and Virtu Americas LLC and collectively with Virtu Financial, Inc. and its subsidiaries referred to as “Virtu” or the “Company”. This August 2019 Amendment supersedes all previous discussions and agreements, written or verbal, in the Offer and constitutes the entire agreement between you and the Company solely with respect to the subject matter set forth herein. All other terms in the Offer between you and the Company not described herein shall remain in full force and effect.

Annual Salary Rate                                     $175,000

Your annual salary will continue at a rate of $175,000. Salary payments are currently made 2 times per month.     

2019 Guaranteed Total Bonus                              $500,000

You will be eligible to receive a $500,000 guaranteed bonus for the 2019 performance year (January 1 to December 31), provided you are in Virtu’s employment on the date such bonus is paid and that no notice to terminate your employment has been given or received by that date. Your guaranteed bonus may be paid in the form of cash, deferred cash and/or in long-term equity or a combination of all three, and the proportion between cash, deferred cash and/or long-term equity will be entirely within the discretion of Virtu. The bonus shall be paid in line with the Company’s year-end bonus payment schedule.

If your employment is terminated by Virtu without Cause (as defined below), prior to the date on which your 2019 bonus is paid, conditioned on your providing Virtu with a release in a form acceptable to Virtu, you will receive the guaranteed bonus in a cash lump sum, no later than 60 days after your employment is terminated, subject to Internal Revenue Code Section 409A. If your employment is terminated for Cause or (1) if you resign your employment; or (2) provide notice that you are resigning your employment prior to the date such guaranteed bonus is paid, you shall not be entitled to any guaranteed bonus.

 

All amounts paid pursuant to this August 2019 Amendment shall be less any taxes that are required to be withheld under any law, rule or regulation. You understand and agree that your employment with Virtu will continue to be “at will”, meaning that you or Virtu may terminate your employment at any time, with or without Cause.

“Cause” means that any of the following occurs:

Thank you for all of your efforts to date, and we look forward to your continued successes.