EX-10.15 Agreement between John Sorvillo, dated July 31, 2006

EX-10.15 7 b63667alexv10w15.txt EX-10.15 AGREEMENT BETWEEN JOHN SORVILLO, DATED JULY 31, 2006 Exhibit 10.15 July 31, 2006 John Sorvillo [ADDRESS] Dear John: We are pleased you have accepted our offer for the position of Vice President Business Development reporting to me. We offer you a biweekly salary of $9,500.00, which equates to an annualized salary of $247,000. In addition to your base salary, you will have an opportunity to earn an annual bonus of up to 30% based on achieving mutually established performance objectives. Our offer to you also includes Stock Options of 145,000 shares of Altus common stock. Shares will vest quarterly over a four-year schedule, in accordance with plan documents, so long as you remain an employee. Your exercise price will be the common stock price in effect on your first day of employment. We feel this is an opportunity that will offer you a satisfying position in a challenging growth environment. Altus offers a competitive and comprehensive benefits program. All employees are eligible to participate in the program, which includes group health, dental, life, and long and short-term disability insurance. You are also eligible to participate in our matching 401k plan, in accordance with plan guidelines. Employees also receive generous vacation time, of which you are eligible to receive three (3) weeks vacation. The company also provides for personal time and observed as well as floating holidays. Your employment is subject to your agreement to Altus's standard employee non-disclosure and inventions agreement We have included a copy of the agreement as an attachment to this offer. Please bring the signed copy with you on your first day. The Federal government requires that we verify the employment eligibility of all new employees. On your first day, please bring two forms of identification (valid driver's license, original birth certificate, passport, original social security card, etc) demonstrating you are legally eligible to work in the United States. This information is required to complete the INS (Immigration and Naturalization Service) form I-9. We look forward to you beginning employment with us on Monday, August 7, 2006. Once you have had an opportunity to review the above information, please let us know it is acceptable to you by signing below and returning one copy of this letter. John Sorvillo July 31, 2006 Page 2 John, everyone who has met you is enthusiastic about your capabilities and feels confident that Altus will afford you a challenging and rewarding career. We look forward to having you join us. Please feel free to contact me or Rose Villandry at (617 ###-###-####) with any questions or if you need additional information. Sincerely, /s/ Sheldon Berkle - ------------------------------------- Sheldon Berkle President & CEO I accept the terms of employment offered in this letter. Signature: /s/ John Sorvillo -------------------------- Date: August 1, 2006 SSN: [SOCIAL SECURITY NUMBER] Attachments: 1. Non-Disclosure and Inventions Agreement