EX-10.43
from 10-K
2 pages
Mr. Larry Gatta 1312 Abington Way Mechanicsburg, Pa 17050 Dear Larry: Thank You for Your Interest in Joining Longs Drug Stores California, Inc. It Is a Pleasure to Confirm Our Offer of Employment for the Position of Group Vice President, Merchandising. This Offer Is Based on the Following Mutual Understanding: 1. You Will Receive an Annual Salary of $190,000 Payable in Equal Bi-Weekly Amounts of $7307.69 for the First Year of Employment. 2. You Will Receive During Your First Year of Employment a Bonus That Is Targeted at 30% of Your Base Annual Salary. for the First Two Fiscal Quarters, This Will Be Guaranteed. Thereafter, Any Bonus Will Be Based on Your Individual as Well as the Company’s Overall Performance. 3. You Will Receive a Sign-On Bonus in the Amount of $50,000, Which Will Be Grossed Up for State and Federal Income Tax Purposes, Payable Within 30 Days of Your Hire. Should You Resign From the Company Within 3 Years of Your Hire Date, You Will Be Required to Repay a Prorated Portion of This Bonus. 4. You Will Receive a Car Allowance in the Amount of $710 Per Month. This Is Taxable as Income and Will Be Paid to You on the Second Paycheck of Each Month. 5. You Will Be Granted a Non-Qualified Stock Option Grant of 9,000 Shares at the End of the Third Fiscal Quarter of This Year. These Shares Will Be Valued at the Then Current Price With Vesting According to the Then Current Company Vesting Policy
12/34/56
EX-10.39
from 10-K
1 page
5. Subject to the Approval of the Board of Directors’ Compensation Committee, You Will Be Provided the Company’s Current Standard Agreement for Termination Benefits in the Event of Change in Corporate Control, as Provided to Other Company Executive and Senior Vice Presidents. Roger, on Behalf of Steve and Myself, We Are Pleased to Extend to You This Promotion and We Look Forward to Our Continued Relationship. Sincerely, Longs Drug Stores California, Inc. Linda Watt Senior Vice President, Human Resources
12/34/56