Employment Letter Agreement between MBI Financial, Inc. and Robert Currier as Chief Financial Officer

Contract Categories: Human Resources › Employment Agreements
Summary

MBI Financial, Inc. offers Robert Currier the position of Chief Financial Officer starting February 1, 2007. The agreement outlines a base salary starting at $165,000, with scheduled increases tied to equity offerings and a guaranteed bonus to match higher salary rates retroactively. Currier will receive stock grants totaling 250,000 shares over the first year and is eligible for an executive stock ownership plan and standard company benefits. The letter is signed by both parties, confirming acceptance of the terms.

Read More Arrow
EX-10.2 3 d43301exv10w2.htm EMPLOYMENT LETTER exv10w2  

Exhibit 10.2
[MBI Financial Inc. Logo]
1845 Woodall Rodgers Frwy, #1225
Dallas, Texas 75201
Ph ###-###-####  Fx ###-###-####
February 1,2007
Mr. Robert Currier
9701 Faircrest
Dallas, Texas 75238
Dear Bob:
We are pleased to offer you a position as Chief Financial Officer at MBI Financial, Inc. Your start date will be February 1, 2007, with the following terms:
•   Base Salary — $165,000 to be increased to $180,000 upon completion of current equity offering (1 to 3 months). A bonus will be paid to bring the time period paid at $165,000 up to an equivalent of $180,000. The annual base of $180,000 will be increased to $200,000 upon completion of a second equity offering or January 1, 2008 whichever comes first. A bonus will be paid to bring the period of time paid at $180,000 to be equivalent to $200,000 once the second equity offering is completed. Salary will be paid in 24 equal installments on the 15th and last day of each month.
 
•   Stock — 100,000 shares upon starting on February 1, 2007, 150,000 shares on the first anniversary, and participation in the executive stock ownership plan of 1,000,000 shares.
 
•   Other — Eligible to participate in the various benefits offered to the employees of the Company.
Sincerely,

/s/ Patrick A. McGeeney
Patrick A. McGeeney
Chief Executive Officer
         
  Accepted and Agreed to:
 		  
  /s/ Robert Currier    
  Robert Currier