Molecular Devices Corporation Promotion and Compensation Letter to Stephen Oldfield (Vice President of Worldwide Marketing)

Contract Categories: Human Resources › Employment Agreements
Summary

Molecular Devices Corporation confirms the promotion of Stephen Oldfield to Vice President of Worldwide Marketing, reporting directly to the President and CEO. His new annual salary is $160,000, paid semi-monthly, and he is eligible to participate in the 2002 Executive Bonus Plan with a target bonus of 40%. This letter outlines his new role, compensation, and bonus eligibility as part of the management team.

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EX-10.36 5 f80040ex10-36.txt EXHIBIT 10.36 Exhibit 10.36 November 29, 2001 Stephen Oldfield Dear Stephen: Molecular Devices Corporation is pleased to confirm your promotion to the salaried, exempt position of Vice President of Worldwide Marketing. In this position you will report directly to me and be a member of the Leadership Team. Your based salary will be $13,333.33 per month ($160,000 per annum) payable semi-monthly on the 15th and last day of each month. As a member of the management staff, you will be eligible to participate in the 2002 MDC Executive Bonus Plan (bonus at Plan 40%). Stephen, congratulations on your promotion. I look forward to working with you in your new role and the contribution you can make to MDC's success. Sincerely, MOLECULAR DEVICES CORPORATION /s/ Joseph D. Keegan Joseph D. Keegan President and Chief Executive Officer