Employment Offer Letter for Vice President/Corporate Secretary – HiEnergy Technologies, Inc. and Ioana Nicodin

Contract Categories: Human Resources › Employment Agreements
Summary

HiEnergy Technologies, Inc. offers Ioana Nicodin the position of Vice President/Corporate Secretary, effective January 11, 2004. She will receive an annual salary of $67,000, with $57,000 paid in cash and $10,000 in six-month promissory notes at 5% interest, issued monthly. After six months, she will be granted options to purchase 100,000 shares under the company's Stock Incentive Plan. Her main duties include SEC filings, maintaining corporate records, public and investor relations, and marketing. Acceptance is confirmed by co-signing the letter.

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EX-10.68 12 ex1068.txt EXHIBIT 10.68 February 3, 2004 Ms. Ioana Nicodin 1601B Alton Parkway Irvine, CA 92606 Dear Ioana: It is my pleasure to offer you the position of Vice President/Corporate Secretary of HiEnergy Technologies, Inc. effective January 11, 2004, under the following terms and conditions: 1. Your annual salary will be $67,000, $57,000 of which will be paid in cash and $10,000 by 6 months Promissory Notes bearing 5% interest to be issued monthly. 2. Options to purchase 100,000 shares of HiEnergy Technologies, Inc. common stock, to be granted half a year after your employment becomes effective with the Company, under our Stock Incentive Plan. Your primary responsibilities will consist of the following: |X| Company Filings with the Security and Exchange Commission |X| Maintaining the Company's Corporate Records |X| Public Relations |X| Investor Relations |X| Marketing We hope that you find our emerging technology stimulating and your new position challenging and such that would manifest your talents and experience at their best. Please confirm your acceptance of this appointment by co-signing this letter below. With best wishes for a successful career in this ground-breaking technological venture of vital national interest, Sincerely, HiEnergy Technologies, Inc. by, /s/ Bogdan C. Maglich --------------------------------- Bogdan C. Maglich Chairman and CEO Accepted by, /s/ Ioana C. Nicodin - ------------------------ Ioana C. Nicodin Date: 2/5/2004 Cc: C. Geyer