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Exhibit 10.36
ADRIEN ARPEL
Xx. Xxxxxx Xxxxxxxx
00 Xxxx Xxx Xxxxxx, Xxxxx #00X
Xxx Xxxx, XX 00000
Re: Xxxxxx Xxxxxxxx/Consulting Agreement
Adrien Arpel, Inc.
Dear Xxxxxx:
When countersigned by you where indicated below the following will
constitute our agreement:
1. We have agreed to hire you as a consultant in Marketing,
Merchandising, Advertising, and Sales for our new Direct Mail sales operation
for a term of one year commencing on July 1, 1997 and ending on July 1, 1998.
2. After the initial one year period, is it hereby agreed that
by mutual agreement, we can negotiate an extension.
3. We guarantee you the sum of $3500 per month. In addition,
we will reimburse to you within thirty days preapproved expenses as per company
guidelines.
4. In further consideration for your work and services, Adrien
Arpel, Inc. hereby agrees on July 1, 1997 or commencement date if earlier, to
grant to Xxxxxx Xxxxxxxx the option to purchase 50,000 shares, of common stock
of Alfin, Inc., pursuant to the Alfin, Inc. Long Term Incentive Plan ("LTIP").
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Exhibit 10.36
The exercise price of the shares shall be fixed at the closing price per share
for Alfin, Inc. on the American Exchange on July 1, 1997, or commencement date
if earlier. The vesting schedule for stock options under this grant is as per
Alfin, Inc's. 1993 Stock Option Plan.
5. It is understood that you will work in the offices of
Adrien Arpel, Inc. a minimum of three days per week.
6. You warrant and represent that you have full authority to
enter into this agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the
day, month and year first above written.
Sincerely,
By: S/Xxxxxxxxx Xxxxx
CONSULTANT:
By: S/H. Xxxxx Xxxxxxxx
Xxxxxx Xxxxx Xxxxxxxx
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