Offer Letter for Promotion to Senior Vice President, Sales and Distribution – Knoll to Arthur C. Graves (July 30, 1999)
Knoll has offered Arthur C. Graves a promotion to Senior Vice President, Sales and Distribution, effective September 1, 1999. Mr. Graves will join the company's senior management team with an annual salary of $200,000, paid bi-monthly. He is eligible for the Knoll Annual Incentive Program, with a target bonus opportunity equal to his base salary, pro-rated for 1999, based on company performance. He is also eligible for the company's relocation policy. The letter outlines the terms of his new role and compensation.
EXHIBIT 10.10
Knoll
1235 Water Street
P.O. Box 157
East Greenville, PA 18041
Tel ###-###-####
Fax ###-###-####
July 30, 1999
Mr. Arthur Graves
222 Cazneau Avenue
Sausalito, CA 94965
Dear Art:
I am pleased to offer you a promotion to Senior Vice President, Sales and Distribution, effective September 1, 1999. In this capacity, you will function as a key member of the Company’s senior management team.
Your annual salary will be $200,000 paid on a bi-monthly basis.
As you have in the past, you will be eligible to participate in the Knoll Annual Incentive Program. Under this program you will have a target bonus opportunity to earn 100% of your base salary for performance during the balance of 1999. Payout under this program is based on achieving agreed upon Company gross profit objectives. Your bonus will be pro-rated for 1999.
You will also be eligible for the Knoll Relocation policy (copy attached).
Art, I am very enthusiastic about this new opportunity for you. I believe that you can make a significant contribution and that this experience can be both profitable and rewarding.
Very truly yours,
/s/ Kass Bradley
Kass Bradley
