{"id":39689,"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-va-research-inc-and-daniel-r-shore.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"employment-agreement-va-research-inc-and-daniel-r-shore","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/employment-agreement-va-research-inc-and-daniel-r-shore.html","title":{"rendered":"Employment Agreement &#8211; VA Research Inc. and Daniel R. Shore"},"content":{"rendered":"<pre>\n                         [VA RESEARCH INC. LETTERHEAD]\n\nOctober 21, 1998\n\nDaniel R. Shore\n305 Wilona Lane\nKnoxville, TN 37922\n\nDear Daniel:\n\nAt VA Research, we depend on the commitment, enthusiasm and skills of our team\nmembers to lead the company's growth. Each person has both the luxury and the\nduty to contribute to the future success of the company in the most meaningful\nway he or she can.\n\nWith this in mind, we are pleased to offer you a permanent position as Vice\nPresident of Operations, effective immediately.\n\nWe view your appointment as the beginning of a new stage in the VA Research\nbusiness plan. We're looking to you to fulfill the company's goal to become a\nrecognized leader in Linux, with a sincere understanding of the Open Source\nculture and an ability to deliver quality products in a timely manner.\n\nAs Vice President of Operations, you will play a senior management role in\ndirecting the company. Your areas of responsibility will include:\n\n     Responsibility for the complete order fulfillment process, from receipt of\n     order to shipment to customer.\n\n     Representing the company on a variety of issues to customers, the Linux\n     community, suppliers, investors, media representatives and the general\n     community.\n\n     Modifying your responsibilities as the company's needs warrant.\n\nYour compensation will consist of:\n\n     A monthly salary of $10,416.66.\n\n     Participation in the company's stock option plan with 164,285 shares (1.5%\n     equity stake on a post venture financing basis) at the standard option\n     price granted on your starting date (currently $0.13 per share) and\n     vesting according to the plan schedule (currently 25% vested after 1 year\n     and 1\/48 per month thereafter).\n\n     Health insurance through Lifeguard and dental insurance through the\n     Guardian. Life insurance coverage of 2 times annual salary.\n     3 weeks paid vacation each year.\n\n     A signing bonus of $20,000 paid on your first day of employment. An\n     additional $10,000 bonus to be paid if the first day of employment is\n     November 9, 1998 or earlier. All travel and relocation expenses are\n     intended to be covered by the signing bonus.\n\n                         [VA RESEARCH INC. LETTERHEAD]\n\n     In the event of involuntary termination for any reason, a severance package\n     equal to the higher of either 1 month salary for every year of service or 3\n     month's salary will be paid on a salary continuation basis with medical\n     benefits coverage during the severance period.\n\nAs with all VA Research staff, your employment is \"at will,\" meaning either you\nor the company may terminate your employment with two weeks written notice. If\nyou ever feel it necessary to discuss issues of your employment, please feel\nfree to raise them frankly with us.\n\nWelcome to our team.\n\nSincerely,\n\n\n\/s\/ LARRY M. AUGUSTIN\n\nLarry M. Augustin, PhD                  John T. Hall\nPresident                               Vice President\n\nAccepted by:\n\n\n\/s\/ DANIEL R. SHORE                     10-28-98\n------------------------                --------------\nDaniel R. Shore                         Date\n\nI will begin my employment with VA Research on Monday November 9, 1998.\n                              \n\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[9207],"corporate_contracts_industries":[9508],"corporate_contracts_types":[9539,9544],"class_list":["post-39689","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-va-linux-systems-inc","corporate_contracts_industries-technology__hardware","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\/39689","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=39689"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=39689"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=39689"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=39689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}