EXHIBIT 10.21
September 4, 2021
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To: |
Barry Bruno |
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From: |
Matthew Farrell |
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CC: |
Rene Hemsey |
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Confirmation of Promotion effective dated 10/01/2021
Congratulations!
I am thrilled to offer you the position of Executive Vice President, Chief Marketing Officer as of October 1, 2021.
Base Salary - $475,000
Bonus Target – 50%
Bonus Target $ $237,500
Total Compensation at Target - $712,500
Stock Option Target – 115%
Stock Option Target $* $546,250
Total Remuneration at Target - $1,258,750
Salary Grade - US Grade Elected Officer
You will receive a stock option grant on October 1, 2021 in the amount of $150,000*. Thereafter, grants will occur beginning in June 2022.
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Current |
New |
$ Change |
% Change |
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Base Salary |
$453,000 |
$475,000 |
$22,000 |
5% |
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Bonus Target % Bonus Target $ |
50% $226,500 |
50% $237,500 |
$11,000 |
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Total Compensation at Target |
$679,500 |
$712,500 |
$33,000 |
5% |
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Stock Option Target % Stock Option Plan $* |
93% $421,290 |
115% $546,250 |
124,960 |
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Total Remuneration at Target |
$1,100,790 |
$1,258,750 |
$157,960 |
14% |
I look forward to seeing the continued impact you will have on our business.
Sincerely,
Matthew Farrell
*Stock Option grant amounts represent the grant date fair value of the award.