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EXHIBIT 10.8
June 23, 1998
Xx. Xxxx Xxxxx
0000 00xx Xxx. East
Seattle, Washington 98112
Dear Xx. Xxxxx:
This letter confirms our mutual understanding of the terms and conditions
applying to your employment with Nextel International, Inc. ("Nextel
International"). Please recognize that this letter is not to be construed as an
employment contract. We look forward to your contribution as a key member of
the team responsible for developing international wireless opportunities.
I outline below the specific terms and conditions regarding the offered
position:
Title: Vice President, International Operations
Compensation Level: EX2
Reporting to: President and Chief Executive Officer
Start Date: July 1
Location: Seattle, Washington
Compensation: $155,000 per year, paid bi-monthly
Bonus: You are eligible to receive in cash a bonus
of up to 40% of your base salary based on
your achievement of specific objectives.
Payout is expected to occur during the
first quarter of each year and will be
prorated during your first year.
Equity: You will be recommended for 25,000 Nextel
International options. Additionally, and
subject to Board of Director approval, you
will be awarded 15,000 shares of Class A
Common Stock ("Shares") of Nextel
Communications, Inc. ("Nextel") in
accordance with the Nextel Option Plan.
These options constitute incentive options
as defined by the Internal Revenue Code.
The options will be granted at the market
price as of the close on the later of the
date on which you agreed to employment and
the date your option grant is approved by
the Nextel Compensation Committee. These
options will vest over four years in
accordance with the Nextel Option Plan.
Expenses: Any expenses that you incur on behalf of
Nextel International which are directly
related to your work will be reimbursed
based on properly
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Xxxx Xxxxx
June 23,1998
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completed documentation and approvals in
accordance with applicable procedures.
Benefits: You are eligible for the standard Nextel
Communications, Inc. (the parent of Nextel
International) Benefit Plan commensurate
with your title and salary.
Performance Review: Your performance will be reviewed on
an annual basis at which time you will be
eligible for a merit increase in your
compensation subject, of course, to the
absolute discretion of the Company's
management.
Your responsibilities will be in accordance with those discussed in your
interview. We believe that you will make a valuable addition to our team and
look forward to working with you. Please do not hesitate to contact me if you
have any questions or require additional information.
Finally, you represent to us that, to the best of your knowledge, you have
never been discharged or asked to leave an employer for reasons of personal
integrity or performance.
Please sign below where indicated and return this letter to me. A copy is
enclosed for your records.
Sincerely,
/s/ XXXXX X. XXXXXX
Xxxxx X. Xxxxxx
Director, Human Resources
Nextel International, Inc.
I accept the offer of employment contained in this letter and hereby agree that
I have read and understand the terms contained herein.
/s/ XXXX XXXXX
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Xxxx Xxxxx
Dated:
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