June 30, 2020ViacomCBS Inc. • August 6th, 2020 • Television broadcasting stations • New York
ViacomCBS Inc. (the “Company”) agrees to employ you, and you accept such employment, on the terms and conditions set forth in this letter agreement (“Agreement”). For purposes of this Agreement, “ViacomCBS” shall mean ViacomCBS Inc. and its subsidiaries.
July 23, 2020Employment Agreement • August 6th, 2020 • ViacomCBS Inc. • Television broadcasting stations • New York
Reference is made to the employment agreement between you (the “Executive”) and CBS Corporation, now known as ViacomCBS Inc. (“CBS”), dated August 13, 2019 (your “Employment Agreement”). All defined terms used without being defined herein shall have the meanings ascribed to them in the Employment Agreement. This letter amends your Employment Agreement as follows, in exchange for your signature on the attached release:
June 30, 2020ViacomCBS Inc. • August 6th, 2020 • Television broadcasting stations
This letter is to confirm our understanding, notwithstanding any provision in your Employment Agreement, that you shall receive a one-time lump sum payment in the amount of Two Million Dollars ($2,000,000), less applicable withholdings and deductions, payable within ten (10) days of the Effective Date (the “Signing Bonus”). In the event that you resign employment with the Company other than for Good Reason during the first twelve (12) months following the Effective Date, you must repay the Signing Bonus. In the event that you resign employment with the Company other than for Good Reason thirteen (13) to twenty-four (24) months following the Effective Date, you must replay fifty percent (50%) of the Signing Bonus.
