Employment Offer Summary between Selfix/Seymour and Charles F. Avery, Jr.

Summary

This agreement outlines the terms of employment for Charles F. Avery, Jr. as Vice President - Finance at Selfix/Seymour. He will receive a starting salary of $120,000, a bonus opportunity based on company performance, and 20,000 stock options. The offer includes a comprehensive benefits package and a severance agreement guaranteeing at least six months' pay if terminated without cause. The bonus plan and stock options are subject to review and adjustment by the Board of Directors.

EX-10.30 10 dex1030.txt EMPLOYMENT OFFER SUMMARY, BETWEEN THE COMPANY AND CHARLES F. AVERY Exhibit 10.30 Charles F. Avery, Jr. Offer Summary Position: Vice President - Finance, Selfix/Seymour Starting salary: $120,000 Bonus target: 30% of salary if Selfix/Seymour's budgeted EBITDA profits are achieved; subject to floor at 90% achievement level; no cap. Pro rata in 1998. The bonus plan design is subject to annual review by the Board of Directors and may change from time-to-time. There are currently no pending changes of significance. Stock options: 20,000 options at market price to be awarded and priced on October 13, 1998 or at such other time as the Board shall meet and award options. A cash award will be used to make up any shortfall between the option price and the current market price. Full benefit package: Health, dental, life, disability, 401(k), profit sharing, stock purchase plan etc. consistent with Selfix/Seymour's current benefit plans. A summary of such plans has been previously provided to you. Severance agreement - A severance agreement will be provided after your first day of employment that will guarantee a minimum of 6 months severance in the event of termination without cause.