{"id":39407,"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-network-computer-inc-and-mitchell-e.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-network-computer-inc-and-mitchell-e","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-network-computer-inc-and-mitchell-e.html","title":{"rendered":"Employment Agreement &#8211; Network Computer Inc. and Mitchell E. Kertzman"},"content":{"rendered":"<pre>                                   [LOGO]\n\n\n\nOctober 12, 1998\n\nMitchell E. Kertzman\n55 Avon Avenue\nMill Valley, CA 94941\n\n                                               SENT VIA FACSIMILE: 415-389-6665\n\nDear Mitch,\n\nWe are pleased to offer you employment as President and Chief Executive \nOfficer for Network Computer, Inc ('NCI' or 'the Company'). Your annual \nsalary will be $300,000 less applicable withholding. You will be eligible for \na target annual bonus of $200,000, based upon goals and objectives as \ndetermined by the Company's Board of Directors and agreed upon by both \nparties. Your first year's target annual bonus, so long as you remain \nemployed, is guaranteed to be $200,000. This bonus is scheduled to be paid \n30 days after the first anniversary of your hire date. Your starting date \nwill be pursuant to discussions with David Roux.\n\nAs an employee of Network Computer, Inc., you will be eligible to participate \nin a number of Company-sponsored benefits, including health and medical \nbenefits. Upon Board of Director's approval, the Company will grant you an \noption to purchase up to 10,000,000 shares of common stock with an exercise \nprice equal to fair market value as determined by the Board of Directors. The \noption would vest as follows: 25% on the first anniversary of the date of \nhire, and monthly thereafter, in equal increments over a period of 36 months. \nThe option is issued subject to the terms of the Company's standard stock \noption plan. However, should the Company experience a change in control (a \nchange in ownership of at least 50% of the Company), 50% of any unvested \noptions from this original grant shall be accelerated to vest upon the \neffective date of the change in control.\n\nUpon your execution of mutually agreeable documentation, the Company will \nloan you up to $1,000,000, secured in a manner agreeable to the Company, for \nthe sole purpose of your purchasing a home. This offer of a loan remains open \nto you through December 31, 1999. If the loan is made to you, it will bear \ninterest at the current market rate and be payable in full plus interest at \nthe end of three years from the funding date of the loan. Specific terms for \nsuch a loan would be defined in a separate agreement.\n\nYour employment with the Company is not for a specific term and can be \nterminated by you or by the Company at any time for any reason, with or \nwithout cause. We request that all of our employees, to the extent possible, \ngive us advance notice if they intend to resign. But if your employment is \nterminated by the Company for any reason other than gross misconduct, you \nagree to accept as severance, in exchange for your execution of a release of \nall claims against the Company, one year's base salary. Your employment with \nthe Company is also contingent upon you executing the Proprietary Information \nAgreement, Employment Agreement and upon you providing the Company with the \nlegally required proof of your identity. The Company also requires proof of \neligibility to work in the United States.\n\nIn the event of any dispute or claim relating to or arising out of our \nemployment relationship, the termination of that relationship, or this \nagreement (including, but not limited to, any claims of wrongful termination, \nbreach of contract or age, sex, race, disability or other discrimination or \nharassment), you and the Company agree that all such disputes shall be fully \nand finally resolved by binding arbitration conducted by the American \nArbitration Association in Santa Clara County, California, with the \narbitrator exercising all powers and remedies of a judge. By signing this \nagreement you and the Company waive your rights to have disputes tried by a \njudge or a jury. However, we agree that this arbitration provision shall not \napply to any disputes or claims relating to or arising out of breach or \nalleged breach of your Proprietary Information Agreement and Employment \nAgreement with the Company.\n\n                                 [LETTERHEAD]\n\n\n\nTo confirm your acceptance of this employment agreement, please sign and date \nthis letter in the spaces provided below and return it to me. A duplicate \noriginal is enclosed for your records. This letter, along with other \nagreements referred to above, set forth the terms of your employment with the \nCompany. This agreement supersedes any prior representations or agreements \nbetween you and the Company, whether written or oral, and it may not be \nmodified or amended except by a document signed by an authorized officer of \nthe Company and you. This offer, if not accepted, will expire on October 15, \n1998.\n\nSincerely, \n\n\/s\/ David Roux\n\nNetwork Computer, Inc.\nBy: David Roux\n    Chief Executive Officer\n\nI agree to and accept employment with Network Computer, Inc. on the terms set \nforth in this agreement.\n\n\/s\/ [ILLEGIBLE]                                                        10\/21\/98\n-------------------------------------------------------------------------------\nSignature                                                               Date\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[8051],"corporate_contracts_industries":[9513],"corporate_contracts_types":[9539,9544],"class_list":["post-39407","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-liberate-technologies","corporate_contracts_industries-technology__software","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\/39407","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=39407"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39407"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39407"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}