CyOptics, Inc. Employment Offer Letter to Leonard Ketelsen for Engineering Manager VI Position
This letter is an employment offer from CyOptics, Inc. to Leonard Ketelsen for the position of Engineering Manager VI, reporting to Ed Coringrato. The offer includes a base salary of $153,500 per year, eligibility for stock options, participation in company benefits, paid time off, and reimbursement of business expenses. Employment is at-will, meaning either party can end the relationship at any time. The offer is contingent on work authorization documentation and is set to begin on May 1, 2005, pending acceptance and the actual closing date.
Exhibit 10.15
April 22, 2005
Leonard Ketelsen
Dear Leonard:
I am very pleased to provide you with this offer letter for the position of Engineering Manager VI with CyOptics, Inc. Your manager will be Ed Coringrato. Your starting base salary will be $153,500 annually, to be paid on a bi-weekly basis. As part of your compensation package, we will recommend to the CyOptics Board of Directors that you be granted stock options under the terms and conditions set forth in the Company’s Stock Option Plan. The details of this option grant will be forthcoming.
Your full-time place of employment will be at the Company’s location in Breinigsville, PA. You will be eligible to participate in the Company’s U.S. benefits program, which includes medical, dental, life, disability, and 401(k) plan. It is CyOptics’ policy to reimburse employees for all necessary and reasonable expenses that are incurred while on Company business. Additionally, per calendar year, the Company will provide you 15 paid vacation days, 10 paid holidays, and 3 personal days.
In compliance with the Immigration Reform and Control Act of 1986, we request that you provide us with appropriate documentation verifying your work authorization and identification prior to your start of employment. You will be instructed to bring this documentation to the orientation session.
All employment with CyOptics is “at-will”, which means you may resign at any time with or without notice and CyOptics reserves the right to terminate your employment or alter your position, duties, or title with or without notice, for any or no particular reason or cause.
Leonard, we are very excited at the prospect of having you join the CyOptics team and being an integral player in the shaping of our new Company. By signing below, you will indicate your acceptance to begin work with CyOptics on May 1, 2005, subject to the actual closing date. We are confident we can build a mutually rewarding and fulfilling relationship.
| /s/ Ed J. Coringrato |
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| Ed J. Coringrato |
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| President & CEO |
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| ACCEPTED AND AGREED: |
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| /s/ Leonard Ketelsen |
| 4/24/05 |
| Leonard Ketelsen |
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| OFFER DECLINED: |
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| Leonard Ketelsen |
| Date |
7360 Windsor Drive
Allentown, PA 18106
Phone: 610 ###-###-####
Fax: 610 ###-###-####
www.cyoptics.com
