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VP Europe Employment Agreement

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Exhibit 10.33


Confidential


July 1, 2001


Stephen W. Coggins


Dear Stephen


We are delighted to formally offer you the position of SVP Europe, Middle East and Africa, and to confirm the terms and conditions of your employment with us.


Statement of terms and conditions of employment


Job Title

Senior Vice President EMEA


Reporting to

Hal Covert and Warren Pratt


Start Date

To be determined


Job Location

You will be based at our Theale office and will be required to travel as needed by your job


Remuneration

Subject to achievement of targets, your annual OTE will be L391,000 made up as follows;


Basic pay:


L230,000


Local variable:


115,000


Corp. Bonus


46,000


Total


L391,000


Your remuneration will be reviewed annually on 1 st July.


We will pay you monthly in arrears, around the 25 th of the month, by direct bank transfer.


Stock Options

Subject to approval by the Board of Directors you will be recommended for a joining grant of 150,000 shares. These will vest 20% after 10 months employment and 2% per month thereafter. Formal documentation on this option grant will follow after you have joined.


Your employment benefits


Company car

You will be eligible for a lease company car, up to a maximum lease value of L1000 per month. Company cars come with road tax, insurance, accident, breakdown and maintenance cover and may be driven by you and one other nominated driver over 25. Alternatively, you may take a cash option of LI200 per month. For full details see the attached Silicon Graphics company car guide.


Paid Holidays

The Silicon Graphics Ltd paid holiday entitlement is 22 working days per calendar year, in addition to bank holidays. This rises to 25 days in your 5th year and 26 days from your 10th year. Holidays must be agreed with your manager, and you may carry a maximum of 10 days over into the next calendar year. Your holiday entitlement for the remainder of 2001 will be pro-rated depending on your start date.


Pension

Silicon Graphics UK operates a choice of Group Pension Schemes. Membership is optional and individual personal Pension arrangements are provided by either Scottish Equitable, Standard Life or
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