Exhibit 10.1
January 13, 2021
David Francisco
Dear Dave,
This letter is to offer you the position of Chief Financial Officer of Organogenesis Holdings Inc. (the “Company”), reporting to the Company’s Chief Executive Officer. This offer is contingent on completion of a satisfactory background and reference check. Your first day of employment with the Company (your “Start Date”) is expected to be Monday, February 8, 2021.
The details of your offer are as follows:
Base Salary: You will be paid a salary of $14,423.08 per pay period, which is equivalent to $375,000.00 per year, in accordance with the Company’s standard bi-weekly payroll schedule and subject to review each year. This is an exempt position under the Fair Labor Standards Act.
Short-Term Incentive: You will be eligible to participate in the Company’s annual executive management bonus program. Your annual target bonus is 50% of your base salary based on criteria set by the Board of Directors of the Company. Any bonus in respect of 2021 will be pro-rated based on your date of hire.
Signing Bonus: The Company will pay you a signing bonus of $50,000.00, payable within two weeks of your Start Date.
Withholding: All payments to you by the Company are subject to all applicable tax reporting and withholding requirements.
Benefits: You will be eligible to participate in the Company’s benefit programs, subject to the terms and conditions of each plan. The Company’s current benefit plans include, but are not limited to, the following: medical, dental, vision, flexible spending, executive life and AD&D, short and long-term disability, and tuition assistance. You will be eligible to participate in the Company’s 401(k) Savings Plan on the first of the month after you complete three months of
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U.S.A. Corporate Headquarters 85 Dan Road | Canton, Massachusetts 02021 | United States | | Phone: +1 781.575.0775 | | www.organogenesis.com |
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