EX-10.7
from S-4/A
2 pages
1. Your Starting Salary Will Be $345,000 Per Year, Less Applicable Withholding and Other Taxes Payable in Accordance With the Company’s Standard Payroll Practices and Procedures. 2. Your Annual Bonus Target Opportunity Will Be 50% of Your Annualized Base Salary With Company and Individual Performance Targets Subject to the Terms of the Applicable Company Bonus Plans for the Year at Issue. Your Bonus Opportunity Will Be Prorated for 2011 Based Upon Your Starting Employment Date With the Company. 3. You Will Receive a Signing Bonus of $200,000, Less Applicable Withholding and Other Taxes, Payable in Full on Your First Scheduled Paycheck, Provided You Accept Our Offer of Employment by December 25, 2010. 4. You Will Also Receive Additional Incremental Bonuses (Separate From Annual Bonus Opportunity as in 2 Above), According to the Following Schedule (Less Applicable Withholding and Other Taxes) So Long as You Are Employed With the Company on the Payment Dates and in Good Standing With Your Employment and Your Employment Has Not Been Terminated by the Company for Cause. ● 2011: $112,000, to Be Paid on April 1, 2011 ● 2011: $250,000, to Be Paid on December 31, 2011 ● 2012: $500,000, to Be Paid on April 11, 2012 ● 2013: $500,000, to Be Paid on April 11, 2013
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