JOB OFFER LETTER DATED SEPTEMBER 6, 2016 BY AND BETWEEN VISUALANT, INC. AND JEFF T. WILSON
Published on January 13, 2017
Exhibit
10.71
September
6, 2016
Via
Electronic Mail
Jeff
Wilson
Dear
Jeff:
It is
my pleasure to offer you a position with Visualant, Inc. as Vice
President, Business Development. Your offer of employment consists
of the following:
.
●
You are being hired
as the Chief Financial Officer, Secretary and Treasurer of the
Company with your start date to commence upon the Board of
Director’s approval of your appointment.
●
You will report to
the Chief Executive Officer and collaborate with Todd Sames EVP
Business Development and Interim Chief Operating
Officer.
●
Your annual salary
will be $180,000.00, paid over twenty-four [24] pay
periods.
●
Initially, your
position will be approximately two thirds time. During this period
you will be paid at two thirds of the full time salary level set
forth above.
●
You will receive
options shares of the Company’s common stock pursuant to the
terms and conditions of the Employee Stock Option Plan in an amount
to be determined. The options shall be priced at a price to be set
based upon an offering price of the stock which is yet to be
determined.
●
You will
participate in an executive bonus program to be
determined.
●
You will be
eligible for coverage under the Visualant health and dental
insurance programs at the parent or subsidiary level.
●
You will receive
120 hours [15 days] per year of Paid Time Off [PTO], which will
accrue at 5 hours per pay period. In the event your employment
terminates before you have accrued all the PTO you have actually
used, you agree that the Company may withhold and deduct from your
final paycheck the pay associated with the PTO days used, but not
accrued. Your PTO will be ratably reduced during your part-time
employment.
●
As we grow as a
company, many of the attributes of normal company benefits,
including 401K will be established.
This
offer letter is not a contract of employment for any specific or
minimum term. The employment Visualant, Inc. offers you is
terminable at will. This means that our employment relationship is
voluntary and based on mutual consent. You may resign your
employment, and Visualant, Inc. likewise may terminate your
employment, at any time, for any reason, with or without cause with
thirty days’ notice.
Jeff
Wilson
Page
2
September 6,
2016
Your
signature below signifies your acceptance of this offer of
employment.
We look
forward to you becoming a part of our Visualant team, and are
excited about the contributions you will make to the success of
Visualant, Inc. You may contact me with any questions you may have
concerning this letter.
Sincerely,
/s/ Ron
Erickson
Ron
Erickson
Chief
Executive Officer
Accepted
this _____day of __________, 2016
/s/
Jeff Wilson
_________________
Jeff
Wilson
____________________________________________________________________
500 Union Street | Suite 406 | Seattle, WA 98101
Tel:
206.903.1351 | Fax: 206.903.1352