{"id":39282,"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-intelligent-systems-for-retail-inc4.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-intelligent-systems-for-retail-inc4","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-intelligent-systems-for-retail-inc4.html","title":{"rendered":"Employment Agreement &#8211; Intelligent Systems for Retail Inc., Webvan Group Inc. and Coppy Holzman"},"content":{"rendered":"<pre>\nSeptember 2, 1997\n\n\nCoppy Holzman\n5 Lost Lodge                                              Via fax:  203-222-0365\nWestport, CT  06880\n\nDear Coppy:\n\nWe are very pleased to extend you an offer to serve as the Vice President -\nMerchandise for Intelligent Systems for Retail, Inc. (\"ISR\").\n\nWe at ISR believe that your skills, experience, and personal attributes will\nenable us to be a leader in the development of this hybrid retail\/internet\ncommerce company.\n\nThis letter serves as an offer of employment to you from ISR. The terms of the\noffer supersede all prior oral and written communications between you and ISR or\nany representative thereof. If the terms below are acceptable, please sign and\nreturn one copy of the letter within two weeks of the above date to accept our\noffer of employment.\n\nPOSITION\n\nYour job title will be Vice President - Merchandise.\n\nEFFECTIVE DATE\n\nYour first date to report to work at ISR, 1241 E. Hillsdale Blvd., Suite 210,\nFoster City, CA 94404, will be September 29, 1997.\n\nDUTIES\n\nYou will report to Louis Borders, President, and your primary responsibility\nwill be to manage merchandising and category planning, along with all other\nduties as assigned. You will also be a member of the Executive Team with\nresponsibility for determining the long term direction and goals of Oasis, and\nfor developing strategies and tactics to meet those goals, along with all other\nduties as assigned.\n\nSALARY\n\nYour salary shall be $20,833.33 per month. This salary shall be paid bi-weekly.\nYour salary shall be reviewed in January on an annual basis in accordance with\nreview procedures established by the ISR Executive Handbook.\n\n   2\n\nALLOWANCES\n\nYou will also be paid a moving expense allowance of $2,500 within one week of\nyour start date and an additional $17,500 ($20,000 total), to be paid upon\npresentation of receipts or invoices due for your complete relocation to\nCalifornia.\n\nIn addition, ISR will pay you $2,500 per month as an expense allowance to cover\ntravel, lodging in California, auto and other expenses. This allowance will be\nreduced to $1,000 per month after eight months or when you have relocated to the\nBay Area.\n\nOn an ongoing basis, ISR will reimburse you for air travel, telephone and pager\nexpenses.\n\nINCENTIVE PLAN\n\nISR will offer a stock option plan. You will be granted the option to purchase\n187,500 shares of common stock with an exercise price of $.01 per share, vested\n(using a Modified Cliff Plan) over a four year period.\n\nBENEFITS\n\nYou will receive the standard benefits for full-time Executives at ISR, with the\nexception of your vacation\/sabbatical policy, outlined below. These standard\nbenefits are listed and explained in the ISR Executive Handbook, administered\nvia TriNet Employer Group. A copy of the policies and benefits section of the\nhandbook will be provided for your information.\n\nIn addition, ISR makes available a 401(k) plan to all employees at the beginning\nof the month following Employee's date of hire. Eligible Employees may elect to\ncontribute up to 15% of their salary to the 401(k) plan, subject to the legal\nmaximum per year. The company will match 100% of the first $500 and 25%\nthereafter up to a maximum Employer match of $2,000 per year of qualifying\nEmployee contributions. Further details will be provided in the 401(k) Plan\nHandbook at the time of enrollment.\n\nAs an exception to the standard ISR benefits package, you will accrue vacation\nat a rate of four (4) weeks per calendar year (instead of two). The sabbatical\nleave policy (six (6) weeks paid sabbatical leave after each five (5) years of\nemployment) will not apply to your position, for the duration of your employment\nwith ISR.\n\nNON-DISCRIMINATION\n\nISR is an equal-opportunity employer, and will not discriminate against its\nemployees or applicants in any employment decision or practice because of race,\ncolor, religion, sex, \n\n\nPAGE 2\n\n   3\n\nnational origin, marital status, pregnancy, age, ancestry, physical handicaps,\nor medical condition.\n\nPROPRIETARY INFORMATION\n\nYou will be required, as a condition of employment, to sign a Proprietary\nInformation Agreement. A sample Proprietary Information Agreement is attached\nhereto.\n\nOUTSIDE WORK\n\nAll ISR Executives are expected to devote their full energies, efforts, and\nabilities to their employment. Accordingly, full-time Executives are not\npermitted to accept outside employment on a full-time or part-time basis without\nfirst obtaining their supervisor's written approval.\n\nAT-WILL EMPLOYMENT\n\nThe relationship between you and ISR will be for an unspecified term and will be\nconsidered at will. No employment contract is created by the existence of any\npolicy, rule or procedure in the ISR Executive Handbook, any ISR document, or\nany verbal statements made to you by representatives of ISR. Consequently, the\nemployment relationship between you and ISR can be terminated at will, either by\nyou or ISR, with or without cause or advance notice.\n\nIn the event that your employment is involuntarily terminated for other than\ncause, Oasis will provide you a six (6) month salary continuance. No salary\ncontinuance shall be payable in the event that you terminate voluntarily or are\ninvoluntarily terminated for cause. This continuance clause expires two (2)\nyears from your date of hire, October 1, 1999.\n\nPERSONNEL POLICIES\n\nISR has an Executive Handbook. The policies in the Executive Handbook govern the\nrelationship between ISR and its Executives. The policies are hereby\nincorporated by reference. Acceptance of this offer binds the offeree to follow\nthe policies.\n\nThis offer is contingent on compliance with the Immigration Reform and Control\nAct of 1986, which requires the company to verify that each employee hired is\nlegally entitled to work in the United States. Enclosed is a copy of the\nEmployment Verification form I-9, with instructions, as required by such act.\nPlease review and execute this document and be prepared to bring the appropriate\ndocumentation on the day you first report to work.\n\n\nPAGE 3\n\n   4\n\nWe look forward to your favorable consideration of this offer and to the\ncommencement of a long and rewarding relationship.\n\nSincerely,\n\n\n\n\nLouis H. Borders\nISR, CEO\n\n\n\nI hereby acknowledge that I have reviewed the terms and conditions of this offer\nof employment and have had the opportunity to consult with counsel. I hereby\naccept the offer of employment upon the terms and conditions contained in this\nletter.\n\n\n\nAccepted:  \/S\/ COPPY HOLZMAN        Date:   September 8, 1997\n           ---------------------            -------------------------\n              Coppy Holzman\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9307],"corporate_contracts_industries":[9499],"corporate_contracts_types":[9539,9544],"class_list":["post-39282","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-webvan-group-inc","corporate_contracts_industries-retail__food","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\/39282","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=39282"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39282"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39282"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}