SPECIAL ADVISOR AND TRANSITION AGREEMENT
Exhibit 10.1
Bottomline
000 Xxxxxxxxx Xxxxx
Xxxxxxxxxx, XX 00000
Xxxx Xxxxx
00 Xxx Xxxx Xxxx
Xxxx #0
Xxx Xxxxxxxx, XX 00000
Dear Xxxx:
As discussed, we understand your desire to retire from Bottomline Technologies, Inc. (“Bottomline”) on August 24, 2021. We thank you for your commitment and service to Bottomline over the past decade. The transition of responsibilities, knowledge and relationships you have built during your tenure at Bottomline are critically important. This letter is intended to memorialize your willingness and agreement to assist in that transition.
To best support a smooth transition, you have agreed to serve as a Special Advisor to Bottomline for twelve months beginning August 24, 2021 and continuing through August 24, 2022, providing such support as may be reasonably necessary or required, including making yourself available to answer questions, providing historical information, or advising the business on matters that were within the scope of your responsibilities during your employment with Bottomline.
You will not receive any salary or bonus for the term of this engagement however your prior stock awards will continue to vest according to their existing terms through August 24, 2022 as consideration and compensation for your continued availability to Bottomline and service as a Special Advisor. You will also be eligible to participate in our group health insurance coverage through COBRA for up to an 18-month period should you choose to do so.
Please acknowledge your agreement and acceptance of the terms hereof by executing this letter below.
| Sincerely, | ||||||||||||||
| /s/ Xxxxxxxx Xxxx | ||||||||||||||
| Acknowledged and Agreed: | Chair, Leadership Development and Compensation Committee | |||||||||||||
| /s/ Xxxx Xxxxx | /s/ Xxxxx Xxxxx | |||||||||||||
| Name: Xxxx Xxxxx | Xxxxx Xxxxx | |||||||||||||
| Date: July 22, 2021 | Chief People Officer | |||||||||||||
