Zeltiq Aesthetics Promotion Letter to Dave for Vice President NAF Sales Position
This letter from Zeltiq Aesthetics notifies Dave of his promotion to Vice President of NAF Sales, effective April 15, 2010. Dave will continue to oversee the direct sales organization and report to the CEO. His base salary will increase to $175,000 per year, with an additional target variable compensation of $110,000, paid monthly based on revenue goals and CEO discretion. He is also conditionally offered 250,000 stock options, pending board approval. The letter outlines the new compensation and responsibilities associated with the promotion.
EXHIBIT 10.35
[ZELTIQ AESTHETICS LOGO]
April 12, 2010
Dear Dave,
It is my great pleasure to notify you of your promotion to Vice President NAF Sales, effective April 15, 2010. As VP, you will continue to report to me and will retain your current supervisory role over our direct Sales organization. You have demonstrated to me and to the rest of the Senior Team that you are an incredibly productive, collaborative, and professional team player. Your development of the NAF organization thus far has been impressive, and I trust that you will continue to drive them to great levels of achievement for the rest of 2010 and beyond.
As a result of your promotion, your Base Salary will be increased to $175,000 per year. In addition, your Variable Compensation at target will be $110,000. The Variable Compensation will be paid monthly, based on the attainment of Revenue objectives and my discretion. We will lock the balance of your Variable Compensation into the Q2-Q4 Forecast developed at our recent off-site. Finally, I am delighted to conditionally extend an offer of 250,000 shares of Stock Options (subject to Board/Compensation Committee approval). If we deliver the business results that I believe are within our grasp, your stock options will provide a wonderful financial outcome for you and your family.
I’ve enjoyed our working relationship this far and look forward to this continuing. Congratulations on the promotion, Dave!
Sincerely,
| /s/ Gordie |
| Gordie Nye |
| President & Chief Executive Officer |
4698 Willow Road Pleasanton, CA 94588 P (888)-ZELTIQ-1 F ###-###-#### www.zeltiq.com
