November 2, 2021
Exhibit 10.33
November 2, 2021
Dear Xxxxx:
In recognition of the contributions you are making to the success of Emerald X, LLC and its affiliates (collectively, the “Company”), we are pleased to provide you with the opportunity to receive a special bonus (the “Special Bonus”), conditioned on your continued employment with the Company through each Vesting Date (as defined and described below) and subject to all of the terms and conditions of this letter agreement (the “Special Bonus Agreement”).
Key Terms of the Agreement
Installment Payment |
Vesting Dates |
$200,000 |
December 1, 2021 |
$200,000 |
January 1, 2023 |
$200,000 |
January 1, 2024 |
Each Installment Payment, if earned, will be paid in a lump sum in cash on the first payroll date following the applicable Vesting Date, and in no event later than 30 calendar days following that Vesting Date. All payments will be subject to all applicable withholding taxes and deductions, if any.
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The obligations in this Special Bonus Agreement shall be an unfunded and unsecured promise to pay and your rights hereunder shall be those of a general unsecured creditor of the Company. Nothing in this Special Bonus Agreement is intended to suggest any guaranteed period of continued employment and your employment will at all times continue to be terminable by you or the Company. This Special Bonus Agreement will be binding on any successor to the Company. The terms of this Special Bonus Agreement may not be modified or amended except in a written agreement signed by you and a duly authorized officer. This Special Bonus Agreement will be governed by, and construed in accordance with, the laws of the State of Delaware.
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We thank you for your past contributions and look forward to your continued impact on the success of the Company. Please acknowledge your acceptance of the terms of this Special Bonus Agreement and return it to Xxxxx Xxxxx as soon as possible but no later than November 5, 2021.
This Special Bonus Agreement may be executed by .pdf or facsimile signatures and in any number of counterparts with the same effect as if all signatory parties had signed the same document. All counterparts shall be construed together and shall constitute one and the same instrument.
Sincerely, |
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EMERALD X, LLC |
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By: |
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Name: |
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Xxxxx Xxxxx |
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Title: |
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President and CEO |
Acknowledged and Agreed: |
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Xxxxx Xxxx |
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Date: |
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