President, Asia Pacific - Employment Letter - R. Scott Murray

EXHIBIT 10.29


[Modus Letterhead]

TO: W. Kendale Southerland FROM: R. Scott Murray DATE: June 17, 2004 SUBJECT: Letter of Understanding: Extension


This letter extends your current assignment in the position of President, Asia Pacific for Modus Media International (" Company" or " MMI" ) at our Singapore location, and reporting to the Chief Executive Officer, pursuant to the following terms and conditions. This extension shall be for an additional one year, from September 21, 2004 to September 21, 2005. This assignment may be extended upon mutual agreement, and may be terminated at management' s sole discretion.

This assignment is subject to obtaining any appropriate permits for employment and residence in Singapore, as well as your acceptance of the terms and conditions outlined in this letter.


The following sets forth the compensation and benefits provisions of your assignment. Please understand that these terms and conditions will be in effect for the period of this assignment and will not necessarily apply to future transfers or assignments.


COMPENSATION AND BENEFITS


Base Salary

Your annual base salary will be continued at USD $300,000 and will be used for purposes of determining differentials, premiums, and bonuses as described in this letter.


Management Incentive Plan


You are eligible for the Management Incentive Plan at the 60% level. All rules for eligibility and pay out of bonuses will be in accordance with the terms of the plan in effect at that time.

Benefits


You may participate in benefit programs as applicable to comparable United States employees. Benefits determined by base salary will be calculated exclusive of any

allowance, differential, bonuses or similar additional payments. Payroll deductions will be applied for hypothetical taxes, applicable US social programs, Company benefit programs, and the like.


Paid time off and holidays will be scheduled based on practices in effect in the Singapore facility. Other benefits are outlined in your Benefits Guide 2004.

Foreign Service Premium


A Foreign Service Premium (FSP) is designed to compensate you for your separation from home as well as to recognize the difficulties of service on an international assignment. Your FSP will be $25,000 per year, paid bi-weekly for the duration of the assignment.

FSP is effective the first day of your assignment in Singapore and terminates the day you leave Singapore at the end of the assignment.

Goods and Services Allowance

The Goods and Services Allowance is intended to reimburse you for certain increased living costs (excluding housing and utilities), which may result when living costs in Singapore exceed those in the United States.

The Goods and Services Allowance is determined using your base salary and may be adjusted up or down due to fluctuation in costs in the home and host countries and in the exchange rate. This allowance begins when you move into housing in Singapore and ends upon vacating said housing. The current Goods and Services allowance available to you is USD $25,000 per year, paid bi-weekly.

Housing and Utilities Differential

The Company will pay your actual monthly housing fee and utilities up to Singapore $20,000 per month, excluding personal telephone expenses. The Company agrees to review your housing differential on or about December 17, 2004 and will make any changes it deems reasonable in consultation with you at that time. The Company must approve housing and rental terms in advance.


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