{"id":39056,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/employment-agreement-dean-amp-amp-deluca-brands-inc-and-jim.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-dean-amp-amp-deluca-brands-inc-and-jim","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-dean-amp-amp-deluca-brands-inc-and-jim.html","title":{"rendered":"Employment Agreement &#8211; Dean &#038; DeLuca Brands Inc. and Jim Bartlett"},"content":{"rendered":"<pre>                                  DEAN &amp; DELUCA\n                                  560 Broadway\n                            New York, New York 10012\n\n\n\n\nSeptember 23, 1999\n\n\nMr. Jim Bartlett\n44 Hillside Drive\nWheat Ridge, CO  80215\n\nDear Jim:\n\nIt is my pleasure to confirm our offer of at will employment at Dean &amp; Deluca\nBrands, Inc. as Vice President of Operations for our Internet and Catalogue\ndivision based in Wichita, Kansas.\n\nAs Vice President of Operations you will report directly to me, have profit and\nloss responsibility for the Wichita operating facility and be accountable for\nsupervising all aspects of fulfillment operations, including order fulfillment\nand warehousing, call center operations, purchasing, MIS, staffing, and\ncoordinating of third party vendors. Your objective will be to build the\ninfrastructure necessary for growth and develop an operating culture that\nreflects the superior quality, excellence, and ambiance associated with the Dean\n&amp; Deluca brand. Your complete responsibilities will be further defined upon your\narrival at Dean &amp; Deluca.\n\nYour overall mission is to build a world-class distribution system for Dean &amp; Deluca. In the execution of all your duties, you will be expected to encourage\nfull and open communication, and to foster a working environment which embraces\nthe principles of continuous improvement and excellence in execution. I will\nexpect you to communicate with me on a regular basis, so there are no surprises.\nYou should feel free to express yourself candidly about matters affecting your\nposition; just expect a lot of questions from me, and healthy debate. Finally,\nyou should employ market based management principles in all of your commercial\ndecision making, and act with a sense of urgency in executing your plans.\n\nYour start date will be October 11, 1999 and your annual base salary will be\n$125,000 with an opportunity to receive a bonus of up to 30% on your first\nanniversary based on your job performance. Additionally, to cover your\nnon-vested options at Staples you will receive a sum of $50,000, $10,000 as a\nsign-on bonus and $40,000 on January 01, 2001. We will also reimburse you for\nreasonable moving costs between Wichita and Denver, 90 days temporary housing in\nWichita, including a couple of trips per month back to Denver from October\nthrough January.\n\n\n\nAdditionally, you will be granted 15,000 options pursuant to our non-qualified\nemployee stock option plan, upon the earlier of six months or the commencement\nof our IPO. The exercise price shall be the fair market value of the option\nshares at the time of grant, which should approximate the IPO value. You will be\nvested as to 25% of your option shares upon your first anniversary date of\nemployment with the balance of your options vested 25% per year upon each\nanniversary date thereafter. A further grant will be made based on your job\nperformance, and is strictly discretionary at the will of the committee\nresponsible for administering the plan. The granting of options is subject to a\nvesting schedule and other terms and conditions which are set forth in the stock\noption plan and stock option agreement, which you will receive upon eligibility\nin the plan.\n\nJim, I know I speak for all the people you have met at Dean &amp; Deluca in\nexpressing our enthusiasm about the prospects of you joining our team. Your\nprofessionalism and combined with our commitment to quality and excellence,\nshall prove to be a winning combination.\n\nYours sincerely,\n\n\n\/s\/ DUMINDA DE SILVA    \n------------------------\nDuminda DeSilva\nSenior Vice President\n\n\nAgreed and Accepted:\n\n\n\n\/s\/ Jim Bartlett\n------------------------\nJim Bartlett\n\n\n9\/29\/99\n------------------------\nDate\n\n\n\n                                       2\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7276],"corporate_contracts_industries":[9501],"corporate_contracts_types":[9539,9544],"class_list":["post-39056","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-dean---deluca-inc","corporate_contracts_industries-retail__misc","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/39056","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=39056"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39056"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39056"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}