ZELTIQ Promotion Letter to Dennis Jarvis – Compensation Adjustment and Stock Options
This letter from ZELTIQ to Dennis Jarvis confirms his promotion and outlines changes to his compensation, effective July 1, 2011. His new base salary is set at $250,000 per year, with a target bonus of 45% of his base salary. Additionally, he is granted 50,000 stock options. The letter acknowledges his contributions and looks forward to future projects. The agreement is formalized by the company's Compensation Committee and is intended for HR records.
EXHIBIT 10.39
[ZELTIQ Logo]
PERSONAL DELIVERY
August, 8, 2011
Dennis Jarvis
Dear Dennis:
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 has approved an incremental 50,000 shares of stock options. It’s been such a pleasure to work with you!
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. I can hardly wait to see what Marketing has in store for us in 2012…
| Sincerely, |
| /s/ Gordie |
| Gordie |
| cc: | HR file |
