Employment Offer Letter between Zareba Systems, Inc. and Doug King for Vice President, General Manager Position
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Summary
Zareba Systems, Inc. offers Doug King the position of Vice President, General Manager of Waters Medical Systems, starting July 5, 2006. The agreement outlines salary, bonus potential, stock options (to be determined), vacation, insurance, 401(k) eligibility, and a signing bonus contingent on one year of employment and meeting objectives. Doug King will report to the CEO and work primarily in Plymouth. The letter confirms the at-will nature of employment and is not a binding employment contract.
EX-10.1 2 c06537exv10w1.htm LETTER AGREEMENT exv10w1
Exhibit 10.1
June 28, 2006
Doug King
5437 Oaklawn Avenue
Edina, MN 55424
5437 Oaklawn Avenue
Edina, MN 55424
Doug:
I would like to offer you the position of Vice President, General Manager of Waters Medical Systems. The details of the position are confirmed below:
Title: | Vice President, General Manager | |
First Day of Employment: | July 5, 2006 | |
Location: | Based in Plymouth, travel as needed | |
Report to: | Jerry Grabowski, Chief Executive Officer | |
Salary: | $5,384.62 paid bi-weekly | |
Bonus: | 30% bonus potential | |
Stock Options: | To be evaluated by BOD at next meeting. | |
Vacation: | 160 hours accrued first year of employment | |
Benefits: | Insurance eligibility begins August 1, 2006. Health, Dental, life insurance, and disability premiums will be reimbursed as taxable income. 401(k) eligibility begins after 6 months of employment. | |
Signing Bonus: | $10,000 payable after 1 year employment and achieving subjective objectives. |
I hope to welcome you to Zareba Systems, Inc. Enclosed are two copies of the offer letter. Please return one copy with your acceptance signature.
Sincerely,
/s/ Jerry Grabowski
Jerry Grabowski
President and Chief Executive Officer
Zareba Systems, Inc.
Zareba Systems, Inc.
I accept the above offer of employment with Zareba Systems, Inc. I understand that Zareba Systems is an at-will employer and this offer is not a contract of employment.
/s/ Doug King | June 29, 2006 | |||
Acceptance Signature | Date |
