Letter Agreement

EX-10.1 2 c06537exv10w1.htm LETTER AGREEMENT exv10w1

Exhibit 10.1

June 28, 2006

Doug King
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.

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