APS Healthcare Inc. Employment Offer Letter to Vincent Achilarre for Chief Financial Officer Position

Summary

APS Healthcare Inc. offers Vincent Achilarre the full-time position of Chief Financial Officer, with a salary of $200,000 per year, eligibility for a bonus up to 30%, and company benefits. The offer includes 200,000 stock options vesting over five years, paid leave, severance for termination without cause, and relocation and travel allowances. Employment is at-will and contingent on standard employment requirements. The offer expires February 19, 2001, and requires acceptance by signature.

EX-10.6 9 a2044217zex-10_6.txt EXHIBIT 10.6 Exhibit 10.6 [LOGO] APS HEALTHCARE INC. HELPING PEOPLE LEAD HEALTHIER LIVES VIA HAND DELIVERY February 15, 2001 Vincent Achilarre 157 Woodland Avenue Convent Station, NJ 07961 Dear Mr. Achilarre: I am pleased to confirm to you the opportunity to join APS Healthcare in the full-time professional position of Chief Financial Officer. Your salary will be $7,692.31 biweekly (if annualized, $200,000.00 per year). You will be eligible for a bonus up to 30% of your annualized salary. Your bonus will be based on satisfying the company's Annual Plan and approved by the Board of Directors. You will currently be eligible for company benefits in accordance with eligibility requirements. In addition, paid days leave (PDL) will accrue at the rate of twenty (20) days per year. You will be granted 200,000 stock options in accordance to the plans rules and regulations upon approval from the Board of Directors to vest over five years. Please find enclosed the Non-Competition and Confidentiality Agreement necessary for your signature and return. In the event of termination without cause, you will be eligible for severance payments for a term of six (6) months in accordance to the enclosed Non-Competition and Confidentiality Agreement. Your start date will be March 15, 2001. This offer of employment will expire close of business on Monday, February 19th. An interim monthly travel allowance will be provided to you in the amount of $1,200 in accordance to APS' expense report policy. This allowance will be provided for a period up to nine (9) months. A moving relocation allowance will be granted to you in the amount of $15,000. This amount will include but not limited to the following: moving household property, costs associated with the sale of your current property, interim housing if necessary, storage of household property, return trips to New Jersey, house hunting trips, car moving expenses or any other reasonable costs associated with your relocation. You will be responsible for all applicable tax requirements. APS will provide reimbursement for your 1st month COBRA premium. Payments will be reimbursed via an expense report sent to APS. In addition, APS will provide payment for your current term life insurance policy not to exceed $2,000 per year. 6705 Rockledge Drive - Suite 200 - Bethesda, MD 20817 - 800 ###-###-#### - 301 ###-###-#### - Fax: 301 ###-###-#### - www.apscare.com February 15, 2001 Vince Achilarre Page 2 Employment is contingent on satisfying all employment requirements applicable to your position including but not limiting to the following: Employment Eligibility Verification (I-9), reference check, etc. Please note that your employment with APS Healthcare is subject to the terms and conditions outlined in the Application for Employment. Please complete the enclosed application and return. Employment at APS Healthcare is "at-will" which means that either you or the Corporation may terminate the employment relationship at any time for any reason not prohibited by law. We look forward to your acceptance of this offer. Please indicate your acceptance by signing and returning a copy of this letter. If you have any questions, please call me at ###-###-####. You may confidentially fax your acceptance letter to me at ###-###-####. Sincerely, /s/ Maureen Birnbaum Maureen Birnbaum Director of Human Resources ACCEPTED BY: /s/ Vincent M. Achilarre February 16, 2001 - ---------------------------------- ------------------------- Signature Date Vincent M. Achilarre