Letter Agreement
EXHIBIT 10.5
Letter Agreement
May 6, 2008 |
Dear Xxxxx:
I am pleased to inform you that the Compensation Committee of the Board of Directors has
approved paying you a spot bonus in the amount of $150,000, with the proviso that you be required
to repay the Company $75,000 of that amount if you are no longer employed by the Company in 12
months.
I ask you to sign below to indicate your understanding, agreement and acceptance of this bonus
under the terms stated above.
All the best, | ||
/s/ Xxxxx Xxxx | ||
Xxxxx Xxxx |
Acknowledged, Agreed to and Accepted:
/s/ Xxxxx Xxxxxx
Xxxxx Xxxxxx
Date: May 8, 2008
Xxxxx Xxxxxx
Date: May 8, 2008