Employment Agreement Update for Joe Girling (2010 Compensation Correction)
This letter, addressed to Joe Girling and signed by the Vice President of Human Resources, corrects an earlier error in his 2010 compensation letter. It clarifies that his commission is in US dollars while other compensation elements are in British pounds, and provides the accurate figures for his salary, bonus, commission, and total compensation for 2010. The letter states that it replaces any previous communication regarding his 2010 compensation.
Exhibit 10.18
February 21, 2010
Joe Girling
London
Dear Joe:
This letter corrects an office error in the 2010 compensation letter I provided you last month. Your commission is reflected in US dollars and the other elements of your compensation are stated in GBPs. Unfortunately the original letter had the wrong currency symbol on the Commission element and the total 2010 Compensation.
The correct data is:
| 2010 | 2009 | |||||
| Annual Base Salary | £ | 116,640 | £ | 108,000 | ||
| Quarterly Bonus | £ | 2,500 | £ | 2,000 | ||
| Commission OTE | $ | 152,460 | $ | 145.200 | ||
| Total 2010 Compensation | £ | 222,567 | £ | 207,321 | ||
Please accept my apologies for the error. As explained above this letter replaces any previous letter or communication regarding your 2010 compensation.
| All the best, |
| /s/ Maureen McGovern |
| Maureen McGovern |
| Vice President of Human Resources |
| cc: | Gal Trifon |
