Exhibit 10.33
To: Xxxx Xxxxxxxx
From: Xxxx Xxxxxxxx
Date: May 15, 1997
Re: Promotion to Vice President and CFO
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The following outlines our agreement on the terms of my promotion to Vice
President and CFO of Astea International effective May 16, 1997:
1. Annual salary increased to $125,000.
2. Incentive stock options to be granted; 25,000 on December 31, 1997 and
25,000 on my first anniversary as CFO, May 16, 1997, with vesting under both
grants over a four year period.
3. In the event of my involuntary termination, for reasons other than just
cause, I will receive a minimum of three months severance at my then current
salary.
4. Annual incentive bonus to be awarded in accordance with the senior
management bonus program. This bonus will be based 70% on Company revenues
and profitability and 30% on personal objectives as outlined.
I hope this outlines your understanding of our agreement. I look forward to
working with you in my new role and moving Astea forward together and would like
to thank you once again for offering me this opportunity.
/s/ Xxxx Xxxxxxxx /s/ Xxxx Xxxxxxxx
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Xxxx Xxxxxxxx, V.P. and CFO Xxxx Xxxxxxxx, Pres. and CEO
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