Exhibit 10.1
April 20th, 2020
Zachary W. Stassen
Dear Zachary,
Congratulations! We are excited to extend you an offer of employment with ViewRay Technologies, Inc. The details of your offer are as follows:
Position: | Chief Financial Officer. Reporting to Scott Drake. This is a regular, full-time position. |
Location: | 1595 Wynkoop St., Suite 900 Denver, CO 80202 |
Start Date: | May 18th, 2020 |
Compensation: | Your annual salary will be $340,000.00 or $13,067.92 bi-weekly. Each member of our team is currently being paid a reduced salary as part of our COVID-19 mitigation strategy. Therefore, your initial annual salary will be $272,000.00 or $10,461.54 bi-weekly until we achieve our established business milestones. Depending on business performance and economic circumstances, you may recover lost income if the outcomes are achieved. You will also be eligible to participate in the Company’s Performance Based Bonus Plan. This bonus plan is based on corporate goals established by the Company’s Board of Directors. At 100% to plan, this bonus plan will provide an opportunity to earn 50% of your base salary in variable incentive compensation. Actual incentive compensation may range from 0% - 200% of the target based on performance to goals. For the first calendar year it is prorated based on your start date. You will be eligible for our executive level severance package. Your position is classified as exempt from overtime. |
A summary of the benefits available to you is attached. For the full details please refer to the benefits guide. The Company reserves the right from time to time to change the company benefits and related plans.
Consistent with state law, your employment with the Company will be “at-will.” This means that your employment with the Company will not last for any specific period of time, and either you or the Company can terminate your employment without notice and for any reason or for no reason. This offer is expressly conditioned upon your successful completion of the Company’s pre-employment screening process, including references, a background check and drug screen (depending on the position). As part of your employment at the Company, you are required
to sign the attached Confidentiality and Restrictive Covenant agreement, and at all times, you are required to comply with the Company’s corporate policies and procedures.
By accepting this offer, you represent and warrant that (i) you are not bound by any employment contract, restrictive covenant or other restriction preventing you from entering into employment with or carrying out your responsibilities for the Company and (ii) you will not bring to the Company any confidential or proprietary information or material of any former employer; disclose or use such information or material in the course of your employment with the Company; or violate any other obligation to your former employers. Further, you agree to execute any and all documentation necessary for the Company to verify your right to work in the United States and to conduct a background check, and you expressly release the Company from any claim arising out of the Company’s verification of such information.
If you wish to accept this offer, please sign and return this letter (keeping a copy for yourself). Your signature below indicates your acceptance of the terms of this offer and the representations contained above. This offer is valid through 4/24/20. If you have any questions, feel free to call me.
We appreciate the time you have invested in this process and we look forward to welcoming you to our team!
Sincerely,
/s/ Rob Fuchs_____________________________________________
Rob Fuchs, Chief Human Resource Officer
Viewray Technologies, INC.
Acknowledged and accepted:
/s/ Zachary Stassen_________________________________________
Name
April 20, 2020 _________________________________________
Date