EMPLOYMENT AGREEMENT
This Employment Agreement (the "Agreement") is made as of the 13th day of July, 1998, by and between Fluent, Inc., a New Hampshire Corporation with its principal place of business at 10 Cavendish Court, Lebanon, New Hampshire, 03766 (the "Company"), and Peter L. Christie of 5 Sugar Maple Lane, Etna, New Hampshire 03750 (the "Executive").
BACKGROUND
The Company desires to engage Executive to provide financial, business and industry expertise in a variety of areas to assist the Company in its business of developing, marketing, selling and supporting computational fluid dynamics software. The Executive is willing to apply his financial, business and industry expertise on a full time basis for the benefit of the Company. Accordingly, the Company and Executive wish to set forth the terms of their agreement as follows.
1. EMPLOYMENT. The Company offers and the Executive accepts full time
employment as Vice President and Chief Financial Officer for the Company.
The Executive shall report to the President of the Company, and shall have
all powers and duties as would normally be associated with the position of
Vice President and Chief Financial Officer. The Executive shall also
perform such other duties as may reasonably be requested from time to time
by the President of the Company. The Executive shall work at the Company's
facility in Lebanon, New Hampshire or at such other place or places as the
Company may reasonably request.
2. TERM and COMMENCEMENT OF EMPLOYMENT. The initial term of employment
under the Agreement shall begin as set forth herein and shall continue for
a period of three (3) years (the "Term"), subject to prior termination in
accordance with the terms hereof. Thereafter, the Agreement shall
automatically renew for successive one year terms unless either party
shall give the other ninety (90) days written notice prior to the end of
any applicable term of its intent not to renew the Agreement. Executive's
employment under the Agreement shall commence as soon as possible, but not
later than August 17
3. COMPENSATION.
3.1. Base Salary. During the period of employment, the Executive will
receive a minimum base salary of $105,000 per year payable in accordance
with the Company's payroll procedures for its executives. The Company
shall review Executive's base salary on an annual basis.
3.2. Bonus. Executive shall be entitled to participate in the Company's
Management Bonus Plan at Level 2, which for the purposes of ease of
calculation, shall be determined from July 1, 1998. A copy of the plan is
available from the Company. You will also be entitled to participate in
the Company's profit-sharing plan.
3.3. Stock Options. By separate agreement you will receive a grant of
10,000 option shares of Aavid Thermal Technologies, Inc. common stock
subject to vesting based on an exercise price set on or about August 1,
1998. Vesting shall be over 3 years, with one-fourth vesting annually
commencing on the date of the grant of the options.
3.4. Benefits. The Executive shall receive medical and other benefits as
provided to other executives from time to time. The Executive shall be
entitled to four weeks of paid vaca ...
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