Attached files
file | filename |
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EX-32.2 - EX-32.2 - AAC Holdings, Inc. | aac-ex322_8.htm |
EX-32.1 - EX-32.1 - AAC Holdings, Inc. | aac-ex321_12.htm |
EX-31.2 - EX-31.2 - AAC Holdings, Inc. | aac-ex312_10.htm |
EX-31.1 - EX-31.1 - AAC Holdings, Inc. | aac-ex311_11.htm |
EX-23.1 - EX-23.1 - AAC Holdings, Inc. | aac-ex231_7.htm |
EX-21.1 - EX-21.1 - AAC Holdings, Inc. | aac-ex211_6.htm |
EX-10.11 - EX-10.11 - AAC Holdings, Inc. | aac-ex1011_218.htm |
10-K - 10-K - AAC Holdings, Inc. | aac-10k_20171231.htm |
Exhibit 10.14
CONFIDENTIAL
December 1, 2017
Via Email
Michael Nanko, Ph.D.
Dear Michael:
I am pleased to extend an offer of employment for the position of President and Chief Operating Officer for AAC Holdings, Inc. (the “Company”). This position will be designated as a Section 16 policy-making officer position, and you will be a key member of the Senior Executive team. We believe you share our enthusiasm for the opportunities that lie ahead and that you bring the ability and professionalism to assist and share in our continued growth and success. This letter will serve to confirm the details of our offer.
Employment Date: |
January 1, 2018 or as mutually agreed
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Reporting Relationship:
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Michael T. Cartwright, Chairman and Chief Executive Officer and the Board of Directors of AAC Holdings, Inc.
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Base Salary: |
Initial base annual pay shall be set at $557,500.
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Cash Bonus Incentives:
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A one-time cash signing bonus of $150,000 to be paid within thirty (30) days of initial date of employment.
You are eligible to earn a cash bonus incentive of up to $300,000 annually to be paid in accordance with similar bonus payments for other Senior Executives. The incentive plan is based on financial and operating performance of the Company as well as your individual performance. Specific performance targets will be determined in collaboration with Michael T. Cartwright and Darrell Freeman, the Company’s Lead Independent Director.
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Equity Consideration:
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Initial grant of 50,000 shares of restricted stock, which shares will vest in annual increments over three years. You will be eligible for additional grants of restricted stock in amounts commensurate with other Senior Executive members on an annual basis as recommended by Michael T. Cartwright and approved by the Compensation Committee of the Board of Directors.
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Salary Adjustment:
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Salary adjustments are evaluated on an annual basis. Multiple factors are included in the determination of salary adjustments, if any, including individual performance, team performance, and attainment of company performance goals, market conditions, and leadership discretion. |
As discussed at the time this offer of employment was made, based on qualifications presented on your application form and in your job interview, this offer is extended contingent on the successful completion of a drug screen, background, and reference check. Omissions, false or misleading statements or misrepresentation of facts are grounds for rescinding this offer. Nothing contained in this letter is intended to create, nor shall it be construed to create, a contract of employment. Under no circumstances should you reveal or otherwise provide information to anyone which would thereby disclose to such person(s) the terms and conditions of employment as set forth above. Your employment with our company is “at will”, which means that either you or the Company may terminate the relationship at any time.
I hope that this captures the essential elements of our offer to your satisfaction. We truly are looking forward to your joining our team. If you have any questions, please let me know.
Sincerely,
/s/ Michael T. Cartwright
Michael T. Cartwright
Chairman and Chief Executive Officer
I accept this offer of employment and understand that this offer is contingent upon the successful completion of a drug and background screen.
/s/ Michael NankoDecember 4, 2017
Michael Nanko, Ph.D.Date