ZELTIQ Promotion Letter to Kristine Tatsutani – Compensation Adjustment and Stock Options Grant
ZELTIQ has issued this letter to Kristine Tatsutani confirming her promotion and new compensation terms, effective July 1, 2011. Her annual base salary is set at $250,000, with a target bonus of 45% of her base salary. Additionally, she is granted 50,000 stock options. The letter acknowledges her contributions to the company and outlines her continued involvement in upcoming projects.
EXHIBIT 10.38
[ZELTIQ Logo]
PERSONAL DELIVERY
August, 8, 2011
Kristine Tatsutani
Dear Kristine:
It is my pleasure to confirm your compensation adjustments that have been approved by the Compensation Committee after the survey project completed by Compensia. Effective July 1, 2011 your base salary will be $250,000 per year, and your bonus at plan will be 45% of your base. In addition, the Committee approved an incremental 50,000 shares of stock options. You have made a tremendous difference already to professionalism and cohesiveness of the leadership team.
These are exciting times at ZELTIQ, and I certainly look forward to the consummation of Project Daisy this fall. Thanks for your effort, output, and leadership in the process thus far. We look forward to having you participate in the road show. And how’s this for a “welcome back from vacation”?
| Sincerely, |
| /s/ Gordie |
| Gordie |
| cc: | HR file |
