Employment Offer Letter to Chuck Eshom from Home Asset Management and American Residential Investment Trust

Contract Categories: Human Resources › Employment Agreements
Summary

This letter offers Chuck Eshom the position of Senior Vice President at Home Asset Management and American Residential Investment Trust. The agreement outlines a base salary of $165,000 per year, a 3% 401K contribution, an annual bonus of up to 75% of base salary, and an initial grant of 15,000 stock options. Benefits include full health, disability, and life insurance coverage, 30 days of paid vacation, and severance of six months' salary if terminated without cause. Employment is at-will and subject to company policies.

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EX-10.16 2 a2042510zex-10_16.txt EXHIBIT 10.16 EXHIBIT 10.16 December 27, 2000 Chuck Eshom 1845 Canyon Place Carlsbad, CA 92008 Chuck: On behalf of Home Asset Management and American Residential Investment Trust I am pleas to extend this offer of employment. We are very encouraged about your becoming a permanent member of this team and your ability to contribute to our success. The terms of your employment are outlined as follows: Position: Senior Vice President Base Salary: $165,000 per year 401K contribution: 3% of Base Salary in any given year, regardless of employee 401K contribution [prorated for a partial year]. Participation begins on the first of the month after 30 days of employment. Annual Bonus: Up to 75% of Base Salary in any given year [prorated for a partial year] Stock Options: Initial Grant of 15,000 stock options at market after three months of employment, under the ARIT 1997 Stock Option [strike price will be established on the grant date]. Benefits: 100% of health care, disability and life insurance premiums starting with your first day of employment. 30 days of paid vacation each year. Severance: "At will employment" with six months of Base Salary for termination without cause. All of the above compensation and benefit components will be administered in accordance with ARIT and HAMC guidelines and policies. Sincerely /s/ Jay M. Fuller Jay M. Fuller, President