Matthews & Stephens Associates Employer Resource Guide: Offer Letter - Executives

Employer Resource Guide

Offer Letter: Executives

Month, Day, Year

Mary A. Jones
123 Main Street
Town, State, Zip Code

Dear Ms. Jones,

This letter is to confirm your acceptance of employment with ABC Corporation as discussed with you during your recent interviews. You will assume the role as Senior Vice President/Chief Operating Officer beginning on Moth, Day, Year.

The terms of your employment are highlighted below:

Annual Salary: Your base annual salary will be $151,500, which will be paid to you in biweekly increments. Future adjustments in your salary will be based on review of compensation trends in the market for similar positions and your overall performance. Such future increases must be approved by ABC Corporation’s Board of Directors, Executive Compensation Committee.

Compensation Enhancements: You will participate in various approved executive compensation enhancements including employer paid life insurance at 3 times salary, Long Term Disability Benefits at 70% level, free wireless phone plan, automobile allowance, gas credit card, home or lap-top computer, free annual physical, deferred compensation plan, employer paid spouse travel for designated events, relocation package (moving expenses and temporary housing) and incentive bonus.

Benefits: Participation as a full time employee in Health, Dental, Vision Care, Pension, Match Savings Plan, and all other benefits as offered to ABC l Corporation employees of similar professional status; such benefits being subject to change from time-to-time and standard eligibility requirements. (Based on your hire date, your Health, Dental and Vision benefits will become effective 4/01/09.)

Paid Leave: 20 days of vacation per year, 7 holiday and 4 personal leave days per year, 10 sick leave days per year accumulating to 65 days (90 calendar days of wage continuation)

Since all paid leave benefits above are calculated on a full calendar year basis, you will be immediately entitled to prorated leave for the period of January 12, 2009 – December 31, 2009. Also upon employment you will be covered, of course, by all state and federal mandated benefits such as Workers’ Compensation, Unemployment Compensation and Social Security Benefits.

With regards to executive relocation assistance, ABC Corporation will pay for up to two round trips to the ____ area for you and your spouse for the purpose of establishing permanent residence. We will also pay for you to visit home every other weekend during the first months of employment for a maximum of six trips to ease the burden of family separation and transition.

For the three months you are required to pay COBRA benefits with your current employer for Health, Dental and Vision benefits, ABC Corporation will pay you the sum of $1,632.30 net of payroll taxes. This represents our costs to provide similar benefits for three months. ABC Corporation will also be willing to reimburse you for reasonable costs to purchase transitional Long Term Disability benefits and Term Life Insurance for yourself for the gap in coverage created by transition of employment to ABC Hospital.

You must complete ABC Corporation standard documents upon employment including an I-9 Form, W-4 Form, and standard application form and others as may be required by law or policy.

This offer of employment is contingent upon your successful passing a pre-placement physical exam, which includes a standard drug screening, through our Employee Health Office. I have asked a representative of the Employee Health Office to contact you to arrange a mutually convenient time for your pre-placement physical. Also, this offer of employment is contingent upon obtaining satisfactory references from those individuals who you have authorized us to contact directly.

On behalf of your new professional family at ABC Corporation, I am delighted to welcome you and your family to our beautiful community.

Please do not hesitate to call if any questions arise.

Sincerely,

John B. Smith
President/Chief Executive Officer

Matthews & Stephens Associates, Inc.
1344 Silas Deane Highway
Rocky Hill, CT 06067
Phone: 860.258.1995
Fax: 860.258.1998