EX-10.9
from 10-K
2 pages
Re: Offer of Employment Dear John, on Behalf of Volcano, We Are Pleased to Offer You the Position of Executive Vice President, Strategy, Business Development & Integrations. We Are Excited About the Talent, Skills and Abilities You Will Bring to Our Team. Subject to the Approval of the 162(m) Committee of the Board, the Specifics of This Offer Are as Follows: Start Date: April 1st, 2013. Until April 1st, 2013, You Will Continue in Your Current Capacity as a Board Member for Volcano; However, You Will Resign as a Member of the Compensation and 162(m) Committees of the Board Upon Execution of This Letter. Location: This Position Will Be Based in Our San Diego, California Office. Reporting: You Will Report to Scott Huennekens, President and CEO. Salary: Your Annualized Salary Will Be $344,000.00 Paid Biweekly at the Rate of $13,230.77 Per Pay Period, Less Payroll Deductions and All Required Withholdings. Signing Bonus: On the First Regular Payroll Pay Date Following Your Actual Start Date, We Will Pay You a Signing Bonus Equal to $100,000, Less Payroll Deductions and All Required Withholdings. Relocation: You Are Eligible to Receive Reimbursement for Your Actual Relocation Expenses Incurred, Up to a Maximum of $175,000.00, Reimbursable Upon Receipt, in Accordance With the Enclosed Relocation Agreement. Short-Term Incentive: Beginning in 2013, You Will Be Eligible to Participate in Our Annual Short-Term Incentive Bonus Plan With a Target Bonus of 40% and Actual Payout Range of 0-80% Based on Individual and Company Performance
12/34/56