EX-10.8
from S-1
3 pages
April 24, 2007 Karen Green Po Box 2118 Toluca Lake, Ca 91610 Dear Karen: On Behalf of Metropark Usa Inc., This Letter Serves to Confirm the Details of the Recent Changes/Additions to Your Original Employment Offer Letter Dated June 29, 2006: • Title: Vice President of Real Estate and Construction • Reporting To: Robert Allison, CEO • Base Salary: $275,000 Annually, Paid Bi-Weekly Effective Beginning the Pay Period Starting April 8, 2007. Payment of Wages Will Continue Throughout the Duration of Active Employment With Metropark. • Performance Incentive Award: You Will Eligible for a Target Bonus for 2007 Equal to $100,000. Payment of Bonus Will Be at 20% ($55,000) of Your Base Salary Based on Company Performance With Remaining Amount of $45,000 Payable Based on Individual Performance and Contribution
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EX-10.6
from S-1
2 pages
Title: Chief Financial and Operating Officer. Operating Responsibilities to Include Real Estate and Construction, Information Technology and Distribution Facility Management. Reporting To: Renee Bell, CEO Target Start Date: Tuesday March 4 or Sooner Base Salary: $300,000 Annually, Paid Bi-Weekly. Payment of Wages Will Continue Throughout the Duration of Active Employment With Metropark. Performance Incentive Award: You Will Receive a Bonus for 2008 Equal to $90,000. Thereafter You Will Be Eligible a Target Bonus of at Least 30% in Future Years Based on Achievement of Compensation Committee Approved Incentive Plans. Stock Option Grant: A Recommendation Will Be Made to Our Board Compensation Committee for a Grant in the Amount of 700,000 Shares at an Execution Price Determined by the Committee. a Independent Stock Valuation Study Is Now Underway With Results Expected by April. the Vesting Is Over a 4 Year Period, With a One Year Cliff on the First 4/16, and Thereafter at the Rate of 1/16 Per Quarter Until Fully Vested at the End of Year 4. the Term of the Grant Is 10 Years Until Expiration. You Will Be Provided With a Copy of the Stock Option Plan Along With Your Grant Agreement for Execution. Vacation: Vacation Is an Accrued Benefit Beginning on Your Date of Hire. You Are Eligible for 3 Week’s Vacation on an Annualized Basis in Accordance to Company Policy. Benefits: A Summary of Benefit Plans That Would Be Applicable to You. at Will Agreement: This Offer Letter Is Intended to Provide General Guidelines and Is Not to Be Construed in Any Way as an Employment Contract. Your Employment With Metropark USA, Inc. Is At-Will, Meaning That It May Be Terminated by Either You or the Company at Any Time, With or Without Cause or Notice
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