May 21, 2025
VIA ELECTRONIC MAIL
Balakrishnan Ganesh
Dear Bala:
I am delighted and enthusiastic to offer you the position of Senior Vice President and Chief Technology Officer, with a start date of July 14, 2025. We have been impressed with your abilities and the range of your potential contributions, and we are looking forward to a meaningful collaboration with you.
The details of your initial employment compensation and benefits package are attached. To indicate your acceptance of this offer, please sign and date the enclosed acceptance letter and forward it to me by May 23, 2025.
You are joining Frontdoor at a very exciting stage of our company’s growth. Our success hinges upon the people who make up our organization. We anticipate that your unique skills and capabilities will play an important role in our efforts as we strive to continue to achieve and exceed our goals going forward.
On behalf of the entire team at Frontdoor, welcome aboard!
Kind regards,
/s/ William C. Cobb
William C. Cobb
Chairman and Chief Executive Officer
Frontdoor, Inc.
EXHIBIT “A”
BALA GANESH
SENIOR VICE PRESIDENT AND CHIEF TECHNOLOGY OFFICER
|
|
Reporting: |
Position to report to the Chief Executive Officer of Frontdoor, Inc. (the “Corporation”) |
Base Salary: |
US$600,000 per annum |
Employment Start Date: |
July 14, 2025 |
Annual Incentive Plan (AIP): |
85% of base salary target bonus under the AIP in accordance with the terms of the plan for similarly situated senior management team members. If employment start date is before October 31st of the current plan year, any bonus payable will be pro-rated and paid in accordance with plan guidelines. |
Sign-On Equity Grant: |
Grant value of US$500,000 under the Corporation’s stock incentive plan, consisting of US$500,000 in restricted stock units (“Sign-On RSUs”). All Sign-On RSUs are subject to an annual vesting schedule over two (2) years in equal installments commencing on his employment start date (the “Grant Date”). Awards are subject to continued employment and shall be governed by the Corporation’s stock incentive plan documents and relevant agreements. |
Hiring Equity Grant: |
Grant value of US$2,000,000 in the aggregate under the Corporation’s stock incentive plan, consisting of (i) US$1,000,000 in grant value in the form of restricted stock units (“Hiring RSUs”) subject to vesting annually over three (3) years in equal installments commencing on the Grant Date, and (ii) US$1,000,000 in grant value in the form of performance shares (“Hiring PSUs”) subject to the same terms and conditions as the performance shares awarded to similarly situated senior management team members of the Corporation in March 2025, with vesting on the third anniversary of the Grant Date. Awards are subject to continued employment and shall be governed by the Corporation’s stock incentive plan documents and relevant agreements. |
Annual Equity Incentive Compensation: |
Commencing in calendar year 2026 and each subsequent calendar year thereafter, he shall be eligible to be considered for annual participation in the Corporation’s |
William Cobb
Chairman and Chief Executive Officer
Frontdoor, Inc.
3400 Players Club Parkway, Suite 300
Memphis, TN 38103
Dear Bill:
This is to confirm my acceptance of the offer of conditional employment presented to me by Frontdoor, Inc. for the position of Senior Vice President and Chief Technology Officer (per the attached offer letter dated May 21, 2025).
I understand the offer of employment is contingent upon my successfully passing a criminal background check, as well as education verification, if applicable. I further understand this offer is contingent upon the completion of a verification of the facts I have provided to you on Frontdoor’s application for employment, if applicable, and for I-9 purposes.
I also understand this employment as Senior Vice President and Chief Technology Officer is contingent on my execution of the Frontdoor Noncompetition, Assignment of Work Product and Confidentiality Agreement and my agreement to utilize Frontdoor’s alternative dispute resolution program We Listen to resolve my work-related disputes/concerns and to arbitrate such disputes if they are not resolved.
My signature below confirms that I understand and agree to the contents of my offer letter (a copy of which I have attached). I understand all employment compensation, including bonus and incentive payments, if applicable, will be subject to applicable withholding tax and payroll deductions. I further understand Frontdoor reserves the right, in its sole discretion and at any time, to revise, modify, suspend or withdraw any compensation, annual bonus or other incentive plans, as to participation level, payout metrics, eligibility, timing or other features of the plans.
I understand this letter does not constitute an employment contract. I understand that my employment with Frontdoor is “at will” and that Frontdoor may terminate my employment at any time, with or without notice. I understand that I am also free to terminate my employment at any time, for any reason, with or without notice.
I am pleased to accept the offer with Frontdoor, and I look forward to working with you.
/s/ Balakrishnan Ganesh May 21, 2025
_________________________________ _______________________
Balakrishnan Ganesh Date