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Exhibit 10.1
John Carter
Job Offer
Package—Components
October 28,
2005
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Position:
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President, NFS
Distributors, Inc. and Senior Vice President, Non-Affiliated
Sales
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Reports
To:
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Mark Thresher, President &
Chief Operating Officer, Nationwide Financial Services
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Base
Salary:
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$300,000
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Sign On
Incentive
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• $250,000
in cash compensation, 50% ($125,000) payable within 30 days of
start date. Additional 50% ($125,000) payable on March 15, 2006.
Must be employed in good standing at time of distribution.
Repayment of sign-on compensation expected should voluntary
termination occur prior to completing 24 months of employment.
Repayment schedule would be: 100% within 12 months and 50% after 12
months but before 24 months of actual initial payment
date.
• Shares
of NFS, Inc. restricted stock to deliver a target award of
$234,000. Vesting is 1/3 per year (100% vesting after 3 years).
Number of shares to be determined at the time of grant based on
fair market value and valuation model.
• Shares
of NFS, Inc. non-qualified stock options to deliver a target award
of $50,000. Vesting is 1/3 per year (100% vesting after 3 years).
Number of options to be determined at the time of grant based on
fair market value and valuation model.
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Short-Term
Incentive:
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Nationwide Financial Services 2006
Non-Affiliated Sales Incentive Plan
As a senior executive of this company you will
be eligible for the following incentive opportunity:
• Target
award opportunity - 100% of base salary ($300,000).
• Maximum
award opportunity - 150% of base salary ($450,000).
• For
2006, sales incentive payout guaranteed at target award level of
$300,000, incentive payable in March 2007.
• For
2006, incentive calculation based primarily upon non-affiliated
sales results.
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Long-Term Incentive:
Total Target LTI opportunity of
$300,000 to be distributed as follows:
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2006 Long Term Equity Plan (LTEP)
As a senior executive of this company you will
be eligible for the following incentive opportunity:
• Shares
of NFS, Inc. non-qualified stock options to deliver an annual
target award of $ 150,000.
- Number of
options to be determined at the time of grant based on fair market
value and valuation model.
- Options
will vest 1/3 per year. (100% vesting after 3 years)
- Options
term is 10 years.
• Annual
target award of $150,000 long term incentive (LTEP Nationwide Value
Added)
- Award based
on Nationwide Value Added performance.
- One-third
of actu
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