Grant of Restricted Shares. You will be eligible, under the Company's 2014 Omnibus Incentive Plan, for a one-time Restricted Stock Award (the "Award"), on the terms and conditions set forth in the Award Notice and the 2014 Omnibus Incentive Plan, of 10,934 time-based Restricted Shares of the Company's Common Stock. The Restricted Shares will be subject to the terms, conditions and restrictions set forth in the Award Notice and will vest as set forth in the Award Notice. These shares are time-based on a four (4) year ratable vesting period.
Obligations. You may be required to serve as an officer and/or director of one or more subsidiaries of the Company, for which you will receive no additional compensation.
Benefits. A significant part of your total compensation at the Company is derived from a competitive benefits package for employees. Eligible Company employees may participate in health insurance benefits (medical, dental, and vision), life insurance, short term and long term disability, the Company's Employee Stock Purchase Plan, 401(k) Plan, and Flexible Spending Plan. All benefits are subject to the plan documents and eligibility requirements.
Paid Time Off. You will receive five (5) weeks of paid time off per year.
Business Travel and Expense. You will be expected to travel in connection with your employment. The Company will reimburse you for reasonable business expenses incurred in connection with your employment and in accordance with the Company's Business Entertainment and Travel Policy. You will be provided a laptop and cellular phone at the Company's expense.
Confidential Information or Trade Secrets. You will observe all rules, regulations, and security requirements of the Company concerning the safety of persons and property. You agree that you will comply with the Company's employee handbook, Code of Business Conduct and Ethics Policy, the Open Door Policy, the Whistleblower Policy, the Stock Ownership and Anti-Hedging and Pledging Policy, the Clawback Policy, and any other policies of the Company as they relate to employees, officers, or directors of the Company.
Executive Severance and Change in Control Agreement. You will have the opportunity to enter into an Executive Severance and Change in Control Agreement with the Company in the form of Exhibit A attached hereto and incorporated by reference herein.
Employment At-Will. This letter does not create an express or implied contract of employment or any other contractual commitment. This letter contains the complete, final, and exclusive embodiment of the understanding between you and the Company regarding the terms of your employment and supersedes in
all respects any prior or other agreement or understanding, written or oral, between you and the Company with respect to the subject matter of this letter. Your employment relationship with the Company is on an at-will basis, which means that either you or the Company may terminate the employment relationship at any time for any reason or no reason, consistent with applicable law.
Notwithstanding the terms of this letter, the Company shall have the right change its compensation, welfare, benefit, incentive, and employment plans, policies, and terms from time to time in its sole discretion.
You represent and warrant that your signing of this letter and the performance of your obligations under it (including, without limitation, your employment with the Company and your performance of services for the Company) will not breach or be in conflict with any covenant not to compete and/or similar obligations by which you are or may be bound. You also agree that you will not disclose to or use on behalf of the Company any proprietary information of another person or entity without that person's or entity's consent.
