EX-10.2
from 8-K
12 pages
Mr. John V. Madison 24 Pocomo Road Nantucket, Ma 02554 Dear John: The Purpose of This Letter Agreement Is to Confirm Our Mutual Understanding of the Terms of Your Employment by Entertainment Distribution Company, LLC (The “Company") to Serve as the Executive Vice President, Business Development, Sales & Marketing of the Company. the Terms of Your Employment Are Set Forth Below. for Purposes of This Letter Agreement, the “Effective Date” Is the First Day of Your Employment by the Company, Which Shall Be January 2, 2006. 1. Duties
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EX-10.1
from 8-K
3 pages
• an Award to Purchase 100,000 Shares of Common Stock of Glenayre Technologies, Inc. the Option Exercise Price Will Be the Stock’s Closing Price on the Last Trading Day of the Month in Which You Start Work (The “Award Date”). One Third of the Options Will Vest on the First Anniversary of the Award Date. the Remaining Options Will Vest in One-Third Increments on the Second, and Third Anniversaries, Respectively, of the Award Date. Upon the Committee’s Approval, This Award Will Be Subject to All the Terms and Conditions of the Glenayre Incentive Stock Plan and the Stock Option Agreement With You. • an Award to Purchase 150,000 Shares of Common Stock of Glenayre Technologies, Inc. to Be Awarded in a Ratio of 1 (One) Option Per $500 in Transaction Value of Acquisition. the Options Will Be Awarded at the Prevailing Stock Price at Market Close on the Date That Is the Earlier of the Day Prior to the Transaction Being Publicly Announced or the Day the Transaction Is Closed. One Third of the Options Will Vest on the Award Date. the Remaining Options Will Vest in One-Third Increments on the First and Second Anniversaries, Respectively, of the Award Date. Because Glenayre Wants Your Efforts Focused on Two Distinct Industries, of the 150,000 Shares, You Can Earn Up to 100,000 on Transactions Related to the Entertainment Industry (Edc) and Up to 50,000 on Transactions Related to the Messaging Industry. Upon the Committee’s Approval, This Award Will Be Subject to All the Terms and Conditions of the Glenayre Incentive Stock Plan and the Stock Option Agreement With You. Note: In This Position, You Will Not Be Eligible to Participate in the Glenayre Incentive Plan (Gip)
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