Compensatory Employment Arrangement for Robert J. Herman as Vice President Finance at Samuels Jewelers, Inc.

Contract Categories: Human Resources › Employment Agreements
Summary

Samuels Jewelers, Inc. entered into an employment agreement with Robert J. Herman, appointing him as Vice President Finance. Under this arrangement, Mr. Herman receives an annual base salary of $110,000 and is guaranteed two bonuses, each equal to one third of his base salary, payable in December 2001 and June 2002. Additionally, he is granted 25,000 stock options with a strike price of $0.60 per share. The agreement outlines his compensation and incentive terms as part of his executive role.

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EX-10.14 7 d99567exv10w14.txt COMPENSATORY ARRANGEMENT - ROBERT J. HERMAN EXHIBIT 10.14 Written Description of Compensatory Plan for Robert J. Herman Samuels Jewelers, Inc.'s Vice President Finance On May 21, 2001 The Company entered into an employment arrangement with Robert Herman making him Vice President Finance. The arrangement called for a base salary of $110,000 annually with two guaranteed bonuses equal to one third of his base salary payable in December 2001 and June 2002. His arrangement also provided for the granting of 25,000 options for common stock of the Company with a strike price of $.60 per share.