Effective Date | April 1, 2016 |
Salary | $170,000, based on a 5-day week. Flexible work week of 3-5 days/week, with salary paid on a prorate basis. |
Car Allowance | $7,000 per year |
Vacation Accrual | daily accrual based on actual days worked each period and 3 weeks/year |
401(k) Match | same as other employees, except paid as additional compensation. |
Change in control agreement | Comparable to one prior to July 2013 - 1 year salary - prorated incentive compensation - full vesting of options & restricted stock |
Paid holidays, sick days, bereavement days, family leave | Based on company policies |
Group Medical and Group Insurance | Same as other employees |
Group Dental, Life and Disability Insurance | Same as other employees |
Group Disability Insurance | Same as other employees |
Cafeteria 125 Plan and Health Savings Account | Same as other employees |
Eligible for bonuses, stock options, and restricted stock in amounts | To be determined by the company |
Expense reimbursement | Same as company’s policy |
Severance | Determined by company, but no less than the company’s past practice for middle managers |
Employment at will of employer. | |