progressive lenses, or lenses with a continuous gradient of differentiated corrective power

EX-10.14 4 a99658exv10w14.txt EXHIBIT 10.14 Exhibit 10.14 S O L A OPTICAL ITALIA Mr. Gaetano Sciuto Via Germania, 10 21027 ISPRA ITALY Castiglione Olona, June 15, 1998 [left margin - top] SOLA Optical Italia S.p.A. Via 24 Maggio, 4 21043 Castiglione Olona (Varese) Tel. 0331 851 111 Fax 0331 850 720 RE: LETTER OF EMPLOYMENT This is to confirm your employment by our Company as a Business Manager for an open-ended period. Pursuant to and in accordance with Article 2 of Law Decree 415/95, paragraph 3, your name is being entered in the employee register used by our Company under no. 37 for insurance, INAIL (Italian insurance institute against industrial accidents) position No. 8328748/43. Your employment relationship will be governed by the CCNL (Italian national collective bargaining contract) standards that apply to managers employed by industrial companies, and in particular by the following terms and conditions:
Date of employment: June 15, 1998 Gross monthly salary as detailed below: LIT 11,538,461.00 Minimum salary by contract LIT 5,500,000.00 Cost of living increase LIT 438,000.00 Absorbable category bonus above contract level: LIT 600,461.00 Personal bonus above contract level: LIT 5,000,000.00 ------------------ Total gross monthly salary LIT 11,538,461.00 ==================
A total annual salary of LIT 150,000,000.00 (one hundred fifty thousand million lire) is to be paid thirteen times in arrears before any deductions provided for by law and by contract. [Bottom left margin] Capital stock: 5,327,400 shares fully paid Business Registry Varese 20364 Tax ID and VAT no. 02142330121 CCP no. 01410215 CCIAA of Varese 23369 http://www.sola.it Compensation includes an "absorbable category bonus above contract level" that may be adjusted to match any contractual increases that may occur within twelve months of the hiring date. Furthermore, a yearly incentive bonus will be awarded to you based on the objectives that will be determined from year to year. - - Confidentiality: In keeping with current legal and contractual provisions, we draw your attention to the need to maintain the strictest confidentiality with respect to news, technical data and information - except publicly disclosed information - that you will become aware of while performing the duties entrusted to you. - - Duties: Sales Manager Europe for the Sunlens Division, fully available to travel within Italy and abroad in the performance of your duties - - Reporting to Directly to the Vice President of Sola International Inc., General Manager of Sunlens Division - - Place of work: Castiglione Olona (Varese), Italy - - Working hours: In accordance with the current CCNL You will also be granted the use of a car in accordance with corporate policy. We kindly ask you to sign the copy attached to this letter, as an indication of your full acceptance and agreement, and return it to us. Employee Company /s/ Gaetano Sciuto /s/ Franco Gaslini [Bottom left margin] Capital stock: 5,327,400 shares fully paid Business Registry Varese 20364 Tax ID and VAT no. 02142330121 CCP no. 01410215 CCIAA of Varese 23369 http://www.sola.it