American Home Shield 2011 Annual Report Download - page 186
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This letter shall not constitute an employment contract and nothing herein will change your status as an "at-will" employee.
If you have any questions please do not hesitate to call me at (901) 597-XXXX or Jed Norden at (901) 597-XXXX. Please return your
signed offer letter, along with the completed new hire paperwork, to me within seven (7) days of the date of this offer.
Chuck, we look forward to having you as a key member of the ServiceMaster leadership team. Our success hinges upon the people
who lead our organization and we are excited about the talent and experience you will add to our team.
Sincerely,
/s/ Hank Mullany
Hank Mullany
Chief Executive Officer
The ServiceMaster Company
I accept this offer of employment under the terms and conditions set forth above.
Signature: /s/ Charles M. Fallon Date: November 17, 2011
December 1, 2011
Charles M. Fallon
6890 SW 94th Street
Pinecrest, FL 33156
Subject: Letter of Clarification
Dear Chuck,
This letter is intended to clarify certain matters relating to your offer letter.
Base Salary
Your base compensation in this position will be at an annual rate of $500,000. This will be paid semi-monthly on the 15th and the last
business day of each month. You will be eligible for a merit increase on an annual basis beginning in 2013 consistent with the merit
program for executives at a similar level in the Company, with the increase based on your performance.
Bonus
For plan year 2012 and going forward, you will be eligible to receive a bonus payment with a target of 65% of your base salary under
the Annual Bonus Plan ("ABP") in effect for that year. This target bonus level is reviewed periodically relative to competitive market
levels.
Severance
You will be eligible for severance compensation as detailed in the attached Severance Agreement that you will need to sign and return.
This letter shall not constitute an employment contract and nothing herein will change your status as an "at-will" employee.
If you have any questions please do not hesitate to call me at (901) 597-XXXX or Jed Norden at (901) 597-XXXX. Please return your
signed severance agreement to me within seven (7) days of the date of this letter.
Chuck, we look forward to having you as a key member of the ServiceMaster leadership team. Our success hinges upon the people
who lead our organization and we are excited about the talent and experience you will add to our team.