LETTERHEAD]
October 1, 1998 Guio Barela 16837 South 11th Way Phoenix, AZ 85048
RE: Offer of Employment
Dear Mr. Barela,
I am pleased to offer you the position of Senior Vice President of Corporate Development for Multiple Zones International, Inc., reporting to Mr. Firoz (Phil) Lalji, President & CEO. This offer is made for employment at will beginning no later than Tuesday, December 1, 1998, and includes the following:
COMPENSATION
A SALARY OF $5,625.00 PER PAY PERIOD (24 per year). You will also be eligible for a bonus opportunity 50% of your base pay, payable quarterly upon reaching certain milestones and metrics as agreed upon between yourself and Mr. Lalji at the onset of your employment.
A $25,000 SIGNING BONUS will also be paid to you following 90 days of employment with the Company, but is contingent upon a commitment of 12 months continuous employment. Should you decide for any reason to terminate your employment prior to that time, these funds must be repaid in full.
The Company will provide you with an option grant to purchase 45,000 SHARES at an exercise price equal to the closing price of the Company's stock as of December 1st, following Board Approval. The incentive stock options shall vest over a five (5) year period, 20% each year. Per your agreement with Mr. Lalji, ...
*End of Preview*
Click the 'Add to Cart' button to download the complete and formatted agreement.