Exhibit 10(y)
Xxxxxx X. Xxxxxx
Terms of Engagement
Cash Compensation: Base: $4,000 per week
Bonus: Pro-rated participation in the Office of the
President Pool
Options: 50,000 - Option to purchase common shares at price on
date this agreement is approved by the Board in accordance
with Interleaf's option plans. Vesting 25,000, share
options to vest 90 days after commencement of employment
with remaining 25,000 share options to vest upon
termination or six months, whichever is sooner.
Title: Vice President, Finance and Administration and Chief
Financial Officer and Treasurer
Review: Continuation of service and terms thereof to be reviewed
by new CEO upon his/her employment.
State Date: January 1, 1997
Benefits: Standard Benefits Package
Change in Ownership: Standard Executive Benefit
/s/Xxxxxx X. Xxxxxx /s/ Xxxx Xxxxx
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Xxxxxx X. Xxxxxx Xxxx Xxxxx
Acting CEO
12/30/96 12/30/96
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Date Date
