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Ref: SD/ES/lam_RS140798.doc
PRIVATE AND CONFIDENTIAL
July 14th, 1998
Richard Snook, Airth, Sunning Woods, Chantonbury Drive, Sunningdale, Berkshire, SL5 9PT
Dear Richard,
We are very pleased that you are considering joining us at Informix Software Limited (the "Company"). The purpose of this letter is to set forth our offer of employment. We propose that you begin employment with Informix Software Limited in the capacity of Vice President, Europe, Middle East & Africa, reporting to Bob Finocchio, Chairman, President and Chief Executive Officer.
Your starting salary, inclusive of base incentive, will be 375,000 pounds sterling per annum. The base salary (270,000 pounds sterling per annum) will be paid monthly by credit transfer and should reach your bank account on or around the 22nd of each month. The payout of your incentive (105,000 pounds sterling per annum) will be subject to a separate agreement, but effective from your first day of employment. Your salary and your incentive will be reviewed after one year of employment and then annually.
It will be recommended to the Board of Directors that you receive a non-qualified Stock option under the Informix Corporate Employee Stock Option Plan to acquire 300,000 shares of the common stock of Informix Corporation on terms and conditions to be determined solely by the Board of Directors at the time of the grant. In the event of a merger or change of control of the Company within six months after the effective date of such stock option grant, the exercisability of your options will accelerate as to two year's additional vesting. If such change of control takes place after such six month period, the exercisability of your options will accelerate so as to be ...
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