EX-10.1
from 10-Q
12 pages
June 19, 2007 Joe Passarello 63 Morton Street Palo Alto, Ca 94303 Dear Joe, on Behalf of Ami Semiconductor (Amis), I Want to Thank You for the Interest That You Have Expressed in Our Company and I Am Pleased to Extend to You This Formal Offer of Employment. It Is a Pleasure to Offer You at This Time the Position of Chief Financial Officer Reporting to Me. in Exchange for Your Contributions You Will Receive and Be Eligible for the Following: 1. Annualized Base Salary • $280,000 ¡ Paid in Equal Bi-Weekly Amounts 2. Bonus Compensation • Pending Board Approval, We Will Pay a $50,000 (Subject to Appropriate Tax Withholdings) One-Time New Hire Bonus, Paid Within Your First Month of Amis Employment. the Bonus Is Contingent Upon a Starting Date as a Regular Amis Employee of No Later Than July 16, 2007. • Participation in the Amis Key Management Incentive Plan (Kmip) Targeting a Total of Sixty Percent (60%) of Base Salary
12/34/56