EX-10.2
from 8-K
2 pages
Kevin A. Lobo Chair and CEO January 27, 2025 Preston Wells Subj: Promotion and Compensation Changes Dear Preston, It Is With Pleasure That I Confirm Your Promotion to Vice President, Chief Financial Officer, Effective April 1, 2025. a Summary of the Compensation Package Related to Your New Role Is as Follows: Annualized Base Salary and Bonus Target • Your Annualized Base Salary Will Increase to $725,000. • This Pay Increase Will Be Effective April 1, 2025. • Your Annualized Bonus Target Will Be $616,250 (85% of Your Annualized Base Salary). Your Bonus in 2025 Will Be Prorated Based on the Effective Date of This Position Change. • You Are Scheduled to Receive a Performance Review in February 2026, and You Are Eligible for a Merit Increase in March 2026 Based Upon Your Performance. Subsequent Reviews Will Be Conducted Annually. 2025 Stock Award
12/34/56