SDI, Inc. Employment Offer Letter to Daniel Kearney for Vice President of Human Resources and General Counsel
SDI, Inc. offers Daniel Kearney the position of Vice President of Human Resources and General Counsel, with a base salary of $175,000 per year, a target bonus of 30% of base salary, and a severance package of six months. Benefits begin after three months, with reimbursement for health and dental premiums until then. The offer is contingent on signing an employment agreement and passing background and drug checks. The start date is August 12, 2004, and a performance review is scheduled for April 1, 2005.
Exhibit 10.10
SDI, INC.
3220 TILLMAN DRIVE, SUITE 200
BENSALEM, PA 19020
215 ###-###-#### TEL /215 ###-###-#### FAX
WWW.SDI.COM
August 9, 2004
Mr. Daniel Kearney
3 Mary Court
Glen Mills, Pennsylvania 19342
Dear Daniel,
I have outlined the offer for employment at SDI below. We are very excited about your joining our team.
Summary of Offer
| Position: |
| Vice President of Human Resources and General Counsel, SDI | |
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| Salary: |
| $175,000.00 base per year paid in regular bi-weekly installments. | |
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| Target Bonus: |
| 30% of base salary | |
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| Breakdown: | 60% corporate results |
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| 30% direct responsibility results |
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| 10% on MBOs |
| Severance: |
| 6 months | |
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| Benefits Package: |
| In accordance with SDI policy, you become eligible to participate in the benefits program on the first of the month following three months of employment. We will reimburse you for your health and dental insurance premiums until that time. | |
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| Performance Review: |
| April 1, 2005 | |
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| Start Date: |
| August 12, 2004 | |
This offer of employment is conditional upon the acceptance of the enclosed Employment Agreement and favorable results on a pre-employment drug screen, criminal and motor vehicle background checks. Also, please sign and return a copy of this letter along with the Employment Agreement.
I believe that with your talent and support, we will continue to grow an exciting and prosperous business. We know your leadership and experience will drive us to new heights.
Sincerely,
| /s/ Donald C. Woodring |
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| Donald C. Woodring | ||
| President & CEO | ||
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| DCW/jdf | ||
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| Accepted by: | ||
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| /s/ Daniel Kearney |
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| Daniel Kearney | ||
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| On this | 13th day of AUG 2004 | |
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