Employment Offer Letter between Senetek PLC and Phillip Rose for Chief Operating Officer Position

Contract Categories: Human Resources › Employment Agreements
Summary

Senetek PLC offers Phillip Rose the position of Chief Operating Officer, reporting to the Chairman & CEO. The agreement outlines a $240,000 annual salary, 40,000 stock options, eligibility for a bonus plan, 401K, and company benefits. Additional terms include relocation support, temporary housing, necessary equipment, and a two-month severance package if terminated without cause. The employment start date and work location are to be agreed upon. This letter sets the key terms for Mr. Rose’s employment with Senetek PLC.

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EX-10.1 2 dex101.htm EMPLOYMENT OFFER LETTER TO PHILLIP ROSE Employment offer letter to Phillip Rose

Exhibit 10.1

May 22, 2008

Phillip Rose

[Address]

Dear Phil,

Per our discussions, we would like to take this opportunity to offer you the position of Chief Operating Officer with our organization. The table below outlines the terms of your employment at Senetek PLC.

 

Title   Chief Operating Officer
Employment Start Date   To be discussed with and agreed upon by Frank Massino
Annual Salary   $240,000
Equity   40,000 Stock Options (at market price on the date of grant)
Report To   Frank J. Massino, Chairman & CEO
Location   Napa Headquarters or Southern California, subject to discussion and approval with Frank Massino
Bonus Plan   Eligible for pro rata participation in Management Bonus Program

401K   Eligible for enrollment in Company’s 401K plan in accordance with its terms
Employee Benefits   Eligible for enrollment in Company’s medical, dental, group life and disability insurance plans effective immediately

We look forward to having you as a member of our team.

Sincerely,

Corena Michnevich

Vice President, Human Resources

Senetek PLC

 

AGREED TO AND ACCEPTED BY:    
         
Phillip Rose     Date

Additional Agreed Upon Terms on May 27, 2008:

 

  1. Senetek to underwrite relocation of automobile and personal items to California (to be kept under $2000).

 

  2. Senetek to underwrite up to 3 month temporary housing in Napa.

 

  3. Senetek to provide necessary equipment such as Blackberry or laptop computer.

 

  4. Senetek to include a 2 month severance package – in the event employee is terminated for anything other than cause.