EMPLOYEE AGREEMENT AMENDMENT
Exhibit
10.8
EMPLOYEE AGREEMENT AMENDMENT
THIS
AGREEMENT (the “Agreement”) is made and entered
into on February 16, 2021 by and between SharpSpring, Inc., a Delaware corporation (the
“Company”); and Xxxxxx Xxxxxxx
(“Employee”).
1.
This Agreement
amends that certain Employee Agreement dated August 15, 2014 made
and entered into by the parties hereto, as amended from time to
time (the “Employee
Agreement”). Capitalized terms herein have the same
meaning as used in the Employee Agreement, unless otherwise
noted.
2.
Paragraph 4.1 of
Article Four – Compensation of Employee is deleted and
replaced with the following:
4.1. Base
Compensation. For all
services rendered by Employee under this Employee Agreement, the
Company agrees to pay Employee the rate of $212,200 per year (the
“base salary”), which shall be payable to Employee not
less frequently than bi-monthly, or as is consistent with the
Company’s practice for its other
employees.
3.
The following
paragraph that reads:
The
annual bonus target amount is $51,500 (the Quarterly Bonus target
amount is $12,875) and will be based on the Company achieving
specified revenue and EBITDA performance targets as set by the
Board of Directors.
is
deleted in its entirety and replaced with:
The
annual bonus target amount is $53,050 (the Quarterly Bonus target
amount is $13,263) and will be based on the Company achieving
specified revenue and EBITDA performance targets as set by the
Board of Directors.
4.
The section titled
“Other Compensation - Bonus” of Appendix B of the
Employee Agreement is amended by adding the following:
In the event Employee separates from the Company for any reason,
any unvested options, restricted stock units or any other equity
plan awards issued to Employee scheduled to vest at the
Employee’s next quarterly, monthly or other interim vesting
period shall automatically vest for each full month of continuous
employment completed between the last vesting date and the date of
termination. No additional unvested options, restricted stock units
or other equity plan awards shall vest to Employee. This provision
shall automatically be incorporated into all equity plan awards
issued to Employee.
5.
All other
provisions of the Employee Agreement remain in full force and
effect, other than any provision that conflicts with the terms and
spirit of this Agreement.
Signature
Page Attached
IN WITNESS WHEREOF, the Parties have executed this Agreement
on the date first written above.
|
|
|
|
SHARPSPRING, INC. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
/s/ Xxxxx
Xxxxxxxx
|
|
|
/s/ Xxxxx
Xxxxxxx
|
|
|
(Witness
signature)
|
|
|
Xxxxx Xxxxxxx,
CFO
|
|
|
|
|
|
EMPLOYEE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
/s/ Xxxxxxxx
Xxxxxxxxxx
|
|
|
/s/ Xxxxxx
Xxxxxxx
|
|
|
(Witness
signature)
|
|
|
Xxxxxx
Xxxxxxx
|
|
