of maximum performance levels. During the first two years of his employment (Mr. Perrys
two-year
anniversary with us occurred in December 2017), Mr. Perry was entitled to receive monthly payments of $20,000 as an allowance for personal housing and travel costs and
gross-up
payments to cover the related taxes on such amounts. Mr. Perry is also eligible to participate in executive benefit plans and programs of the Company on the same terms and conditions as other
similarly-situated employees.
In addition, Mr. Perry is eligible to receive awards of stock options, restricted stock or other equity awards pursuant to any
plans or arrangements we may have in effect from time to time.
Please see Potential Payments upon Termination, Change in Control or Certain Other Events
below for additional information on the Perry Employment Agreement.
Michael Guthrie
For 2018, Mr. Guthrie, our Chief Financial Officer until his resignation on February 1, 2018, had an annual base salary of $400,000 and was eligible for an
annual performance-based bonus.
We entered into an employment agreement on October 25, 2013 with Mr. Guthrie (the Guthrie Employment
Agreement). Pursuant to the Guthrie Employment Agreement, Mr. Guthrie was eligible for an annual performance-based bonus, to receive awards of stock options, restricted stock or other equity awards pursuant to any plans or arrangements we
may have in effect from time to time and to participate in executive benefit plans and programs of the Company on the same terms and conditions as other similarly-situated employees. The Guthrie Employment Agreement provided that all of his current
and future stock options would permit exercise via a net exercise feature and, with respect to stock options granted prior to our initial public offering, early exercisable as to unvested shares, subject to our right to repurchase any unvested
shares upon termination of employment.
Please see Potential Payments upon Termination, Change in Control or Certain Other Events below for additional
information on the Guthrie Employment Agreement.
John Pierantoni
For 2018, Mr. Pierantoni, our Chief Accounting Officer from 2013 until his resignation on April 1, 2019, and our Interim Chief Financial Officer from
February 1, 2018 until his resignation, had an annual base salary of $350,000 until May 7, 2018, when it was increased to $360,500, and was eligible for an annual performance-based bonus.
We entered into an employment agreement with Mr. Pierantoni as of August 18, 2015 (the Pierantoni Employment Agreement). Pursuant to the Pierantoni
Employment Agreement, Mr. Pierantoni was eligible for an annual performance-based bonus, to receive awards of stock options, restricted stock or other equity awards pursuant to any plans or arrangements we may have in effect from time to time
and to participate in executive benefit plans and programs of the Company on the same terms and conditions as other similarly-situated employees.
Please see
Potential Payments upon Termination, Change in Control or Certain Other Events below for additional information on the Pierantoni Employment Agreement.
Michael Darrow, Tommy McClung and Brian Skutta
For 2018, each of
Messrs. Darrow, McClung and Skutta had an annual base salary of $400,000 and was eligible for an annual performance-based bonus. Mr. Darrow is our Executive Vice President, Partner and OEM Development and the President of ALG, Inc.
Mr. McClung is our Chief Technology Officer and Executive Vice President. Mr. Skutta is our Executive Vice President, Dealer Sales and Service.
We entered
into an employment agreement with Mr. Darrow as of February 28, 2017 (the Darrow Employment Agreement), with Mr. McClung as of January 12, 2017 (the McClung Employment