Amendment to Executive Employment Agreement between Geoworks Corporation and David Grannan (November 21, 2000)

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment extends the employment agreement between Geoworks Corporation and its Chief Executive Officer, David Grannan, for two additional years, now expiring on January 9, 2003. The amendment confirms that Grannan will retain only the CEO title and duties, sets his annual base salary at $240,000 with a 35% quarterly bonus target, and acknowledges additional stock option grants. All other terms from the original January 10, 1999 agreement remain unchanged. The amendment was approved by the company's Compensation Committee and accepted by both parties.

View More
EX-10.19 3 d26145_ex10-19.txt AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT EXHIBIT 10.19 - AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT BETWEEN GEOWORKS AND DAVID GRANNAN DATED NOVEMBER 21, 2000 [LETTERHEAD OF GEOWORKS] November 21, 2000 Dave Grannan Chief Executive Officer Geoworks Corporation 960 Atlantic Avenue Alameda, CA 94501 Re: extension of employment agreement dated January 10, 1999 Dear Dave: This letter will memorialize our agreement to extend your current employment agreement by two years. We affirm all of the terms and conditions of our letter agreement dated January 10, 1999, except for the following changes: o The agreement will expire on January 9, 2003. o Executive and the Board have relegated the title and duties of "President" to another employee of the Company, leaving Executive with the title and duties of the "Chief Executive Officer". o Executive's current annual Base Salary is $240,000; and executive's bonus target is 35% quarterly. o Executive has received additional stock option grants not documented in the original agreement. Kindly indicate your acceptance of the foregoing. The terms were reviewed and approved at our Compensation committee on November 21, 2000. We look forward to more great progress. Sincerely, \s\ David Neylon Chairman of the Board Agreed: \s\ ------------------------ Dave Grannan Chief Executive Office