Exhibit 99.1
November 21, 2019
Bottomline Technologies
325 Corporate Drive
Portsmouth, NH 03801
P 603.436.0700
Mr. Rob Eberle
c/o Bottomline Technologies
325 Corporate Drive
Portsmouth, NH 03801
Re: Performance Shares Allocation
Dear Rob,
Per our discussion, the Leadership Development and Compensation Committee has determined it is appropriate and advisable that the percentage of shares in your most recent stock grant which are subject to performance criteria be revised upwards from 30% to 35%. We appreciate your agreement to this change.
We anticipate that at least 35% of future stock grants will similarly be subject to performance criteria. We feel this provides clear rewards for performance as well as strong alignment with shareholder interest.
Sincerely, | ||
/s/ Jennifer M. Gray | ||
Jennifer M. Gray, Chair | ||
Leadership Development and Compensation Committee |
Agreed and accepted, | ||
/s/ Robert A. Eberle | ||
Rob Eberle, CEO |