Exhibit (e)(35)
June 10, 2015
Brit Reich
[address]
Dear Brit:
This letter confirms a modification to your April 2nd offer of employment based on responsibility changes early in your tenure with the company. Major details of the terms are as follows:
1. | Position: | Vice President, Sales — North America |
2. | Reporting relationship: | Chris Metz, President and CEO |
3. | Base salary: | $235,000 annually |
4. | Bonus Target of 35% - In FY2016, your bonus will be based on 100% company performance on net income. Bonus payouts can range from 0% to 200% of you Bonus target. You will be eligible for a pro-rated bonus payout from your start date for Fiscal Year 2016 (ending 3/31/2016.) |
5. | Personal use of - One ATV, one S x S, two snowmobiles, and appropriate gear. |
6. | Vacation: | Four (4) weeks’ vacation |
7. | At the discretion of the President and Board of Directors, you will receive an initial grant of $135,000 in value (75% value in Stock Options and 25% value in RSU’s). The grant will be given as soon as practical. |
8. | If your position is eliminated, for a reason unrelated to your performance, you will be eligible for 9 months of severance, paid in the form of regular pay dates, and COBRA Medical coverage at the same cost as if you were an active employee during that period. |
9. | Your employment agreement (signed on hire) is still in effect. |
Sincerely,
Christopher Metz
President and Chief Executive Officer
cc: William J. Nee, VP — Human Resources
Signed: | /s/ Brit Reich | |
| Brit Reich |
| |
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Date: | 6/18/2015 | |
