Mr. B. Anderson Young: Terms of
Offer of Employment
Dear Andy:
Please allow this letter to serve as an offer of employment with mortgage.com. The terms and conditions of the offer are detailed below:
o Employed with: mortgage.com, inc.
o Position: Chief Information Officer
o Job Description: Responsible for the overall development and
maintenance of all of the Company's computer and
information technology.
o Additional Responsibilities: Jointly responsible with other Senior
Management for the management of the Company.
o Reports to: Seth Werner, Chairman and Chief Executive Officer
o Base Salary: $175,000 annually
o Bonus: Up to 30% of base salary for excellent performance, in
the sole discretion of the Chairman
o Frequency of Bonus Payment: Annually at discretion of Chairman; pro-rated
for 1999
o 401K Program: Standard eligibility for participation under the plan
o Vacation: Two weeks paid vacation annually.
o Medical and Dental Benefits: The cost of medical and dental insurance for
yourself will be covered by mortgage.com. as is standard
and available to all employees. The company will
contribute the HMO health and DMO dental rate toward the
premium for your insurance benefits, any upgrades or
dependent coverage will be your responsibly ; life
insurance through the company will be available at
standard rates.
o Relocation Expenses: Up to $75,000 in relocation expenses ( the "Relocation
Advance"), $25000 of which is to be man ...
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