• | A base salary of Two Hundred Forty Five Thousand Dollars ($245,000) per year. |
• | An initial grant of Thirty Five Thousand (35,000) shares of restricted stock units which will vest annually over a three-year period, commencing on March 1, 2018. Stock will only vest if you are an active employee on the date of vesting, or in the event of a change in control of the Company. |
• | Beginning with a cash bonus for calendar year 2017 (generally payable in the first quarter of the following year), participation in the Company’s annual incentive compensation program funded from a pool tied to goals established by the Company’s Board of Directors. Individual awards are allocated based on both Company and individual performance. The initial target cash bonus compensation would be 50% to 60% of base salary. |
• | Participation in Callon’s Long-Term Incentive (“LTI”) program, including grants of (i) restricted stock units and (ii) phantom stock units payable in cash based on the Company’s performance relative to a designated peer group. Based upon recent years, the initial target LTI compensation would be approximately 50% to 60% of base salary. Currently, the LTI awards are allocated 40% to restricted stock units and 60% to phantom stock units. |
• | Participation in the Company’s 401(k) program beginning on the first day of the first full month of employment. Currently, the Company contributes five percent of annual base salary (2.5% in cash, 2.5% in Callon stock) with no contribution from the employee. In addition, if you choose to make an elective deferral, the Company will match your contribution at the rate of 0.625% for each 1% you contribute, limited to 5% matching by the Company. The employee annual contribution is limited by standard governmental guidelines. |
• | Participation in the Callon Petroleum Company Group Insurance Plan which currently includes medical and dental insurance coverage for employee and qualified dependents; group term life insurance equal to 2.5 times your annual salary; accidental death and personal loss insurance at the same rate as life insurance; and long-term disability insurance in the amount of 60% of monthly salary. As of this date, all premiums are paid by the Company with no employee contribution. |
• | Five (5) weeks paid vacation per year available immediately. |
• | Minimum nine (9) paid holidays per year. |
• | Flexible Spending Account (FSA) Plan. |
• | Vision coverage plan (paid by employee). |
• | Tuition reimbursement plan. |
• | Membership dues for professional organizations. |