[LOGO] FIRESTONE
COMMUNICATIONS
Wednesday, January 12, 2005
Mr. Xxxx Xxxxxxx
Fort Worth, Texas 76117
Dear Will:
It is my pleasure to extend this agreement letter to you and it is my hope that
you will soon be a member of the Firestone Communications team. The attached
letter outlines our offer of compensation and your basic responsibilities at
this time in your employment with Firestone Communications, Inc. Please note
that we intend to enter into a formal employment contract with you within sixty
days from the date of this agreement letter.
Thank you for your interest in Firestone Communications and please acknowledge
your agreement to these terms by signing and returning one copy of each page of
this letter to me.
Sincerely,
Xxxxxxx Xxxxxxxxx
Chairman, CEO
Acknowledged and agreed:
/s/ Xxxx Xxxxxxx
----------------
Xxxx Xxxxxxx
Date: 1/13/05
TO: Xxxxxxx Xxxxxxxxx, Chairman & CEO, Firestone Communications
CC: Xxxxx Xxxxxxxxx, EVP Operations, Firestone Communications
FROM: Xxxx Xxxxxxx
DATE: January 13, 2005
SUBJECT: Employment agreement letter (four pages total)
Xxxxxxx:
Thank you for the warm welcome to your company. I am looking forward to starting
Feb 1st and having a bright future with Firestone.
Please contact me about the next step in the employment process. I look forward
to hearing from you.
Sincerely
/s/ Xxxx Xxxxxxx
Xxxx Xxxxxxx
00000 Xxxxxxxxx Xxxxx #0000
Xxxxxxx. TX 75001
000-000-0000 (H)
000-000-0000 (C)
xxxxxxxxxxx@xxxxxxxxx.xxx
EMPLOYMENT TERM SHEET
---------------------
Employee: Xxxx Xxxxxxx
Employer: Firestone Communications, Inc.
Position: 'Systems Engineer'
Description: Your responsibilities include, but are not limited to, working
with the all aspects of the company that require engineering
expertise. To design and configure the new control room for
production and broadcast. To redesign, reorganize and better
integrate current technical systems installed within FCI. To
do complete wiring diagrams, patch layouts, routes labels and
system organization. To train technical staff and employees
and to use feedback to improve technical Systems. To learn all
existing cable broadcast systems and equipment so as to be
able to troubleshoot problems and keep all systems running
100%. To oversee, if needed, any engineering requirements
involved in off-site projects or productions. You will report
directly to the EVP of Operations and the President.
Term: This agreement is an outline of your compensation and basic
responsibilities and not constitute an employment contract of
any kind. Your employment will be considered "at will"
employment although after sixty days from the commencement of
your employment, February 1st 2005, the company may elect, in
its sole discretion, to enter into a mutually acceptable
employment contract with you.
Compensation: Compensation shall be paid to you in three methods: 1) salary,
2) performance bonus, 3) production sales commission and 4}
phantom stock or stock options. Your annual base salary,
beginning upon the commencement date of your employment shall
he Sixty Five Thousand Dollars ($65,000) plus an annual
performance based bonus with performance goals that are
achieved by the company. The Company may, in its sole
discretion, elect to increase your base salary or performance
based bonus amount at that time. You shall be eligible for the
bonus after completing twelve months of employment although
the Company may elect to award performance bonuses to you at
earlier dates. You shall also receive a sales commission equal
to 10% (of the net profit) of any production sales revenues
that you are directly responsible for generating. All sales
commissions shall be deemed as earned by you after they are
collected from the client and shall be paid to you on the 15th
of the month following the collection of the funds from the
client. You shall not receive commission for any production
sales that you are not directly responsible for obtaining on
behalf of the Company.
Stock Options: The Company agrees to grant you either (1) stock options of
the Company on the Plan Effective Date (on a fully diluted
basis), in an amount to be determined and exercisable at a
price equal to the stock's fair market value as of such date
as determined by the Company's board of directors, and vesting
ratably over a four year period. Or, (2) at the Company's sole
option it may issue you what is commonly known as "phantom
stock". Stock options and "phantom stock" will be issued in
accordance with and subject to the terms and conditions of the
Company's stock/option plan.
Benefits: Eligible to participate in the Company's employee benefit
plans and including, without limitation, medical, dental and
vision plans, allowed employee paid time off, and 401K or
other retirement programs that the Company may offer to
employees of the Company. The benefits shall include three
weeks of paid vacation leave during your first year of
employment.
Other: The Company agrees to transfer your cellular and email service
to the FCI Company T-Mobile account. email and phone use is
strictly for business purposes Blackberries. Blackberry like
devices and cellular phone may not be used as personal
devices.
Acknowledged and agreed:
/s/ Xxxx Xxxxxxx
------------------ --------------------------------
Xxxx Xxxxxxx Xxxxxxx Xxxxxxxxx Date
Date: 1/13/05 Chairman, CEO
[LOGO] FIRESTONE
COMMUNICATIONS
Wednesday, January 19, 2005
Mr. Xxxx Xxxxxxx
Fort Worth, Texas 76117
Dear Will:
It is my pleasure to extend this agreement letter to you and it is my hope that
you will soon be a member of the Firestone Communications team. The attached
letter outlines our offer of compensation and your basic responsibilities at
this time in your employment with Firestone Communications, Inc. Please note
that we intend to enter into a formal employment contract with you within sixty
days from the date of this agreement letter.
Thank you for your interest in Firestone Communications and please acknowledge
your agreement to these terms by signing and returning one copy of each page of
this letter to me.
Sincerely,
/s/ Xxxxxxx Xxxxxxxxx
Xxxxxxx Xxxxxxxxx
Chairman, CEO
Acknowledged and agreed:
________________________
Xxxx Xxxxxxx
Date:___________________
EMPLOYMENT TERM SHEET
---------------------
Employee: Xxxx Xxxxxxx
Employer: Firestone Communications, Inc.
Position: Engineer
Description: Your responsibilities include, but are not limited to, working
with the all aspects of the company that require engineering
expertise. To design and configure the new control room for
production and broadcast. To redesign, reorganize and better
integrate current technical systems installed within FCI. To
do complete wiring diagrams, patch layouts, router labels, and
system organization. To train technical staff and employees
and to use feedback to improve technical systems To learn all
existing cable broadcast systems and equipment so as to be
able to troubleshoot problems and keep all systems running
100%. To oversee, If needed, any engineering requirements
involved in off-site projects or productions. You will report
directly to the EVP of Operations and the President.
Term: This agreement is an outline of your compensation and basic
responsibilities and does not constitute an employment
contract of any kind. Your employment will be considered "at
will" employment although after sixty days from the
commencement of your employment, February 1st 2005, the
company may elect, in its sole discretion, to enter into a
mutually acceptable employment contract with you.
Compensation: Compensation shall be paid to you in three methods: 1) salary,
2) performance bonus, 3) production sales commission and 4)
phantom stock or stock options. Your annual base salary,
beginning upon the commencement date of your employment shall
be Sixty Five Thousand Dollars ($65,000) plus an annual
performance baaed bonus with performance goals that are
achieved by the company. The Company may, in its sole
discretion, elect to increase your base salary or performance
based bonus amount at that time. You shall be eligible for the
bonus after completing twelve months of employment although
the Company may elect to award performance bonuses to you at
earlier dates. You shall also receive a sales commission equal
to 10% (of the net profit) of any production sales revenues
that you are directly responsible for generating. All sales
commissions shall be deemed as earned by you after they are
collected from the client and shall be paid to you on the 15th
of the month following the collection of the funds from the
client. You shall not receive commission for any production
sales that you are not directly responsible for obtaining on
behalf of the Company.
Stock Options: The Company agrees to grant you either (1) stock options of
the Company on the Plan Effective Date (on a fully diluted
basis), in an amount to be determined and exercisable at a
price equal to the stock's fair market value as of such date
as determined by the Company's board of directors, and vesting
ratably over a four year period. Or, (2) at the Company's sole
option it may issue you what is commonly known as "phantom
stock". Stock options and "phantom stock" will be issued in
accordance with and subject to the terms and conditions of the
Company's stock/option plan.
Benefits: Eligible to participate in the Company's employee benefit
plans and programs, including, without limitation, medical,
dental and vision plans, allowed employee paid time off, and
401K or other retirement programs that the Company may offer
to
employees of the Company. The benefits shall include three
weeks of paid vacation leave during your first year of
employment.
Other: The Company agrees to transfer your cellular and email service
to the FCI Company T-Mobile account. Email and phone use is
strictly for business purposes. Blackberries, Blackberry like
devices and cellular phones may not be used as personal
devices.
Acknowledged and agreed:
/s/ Xxxxxxx Xxxxxxxxx 1/19/05
-------------------------------- --------------------------------
Xxxx Xxxxxxx Xxxxxxx Xxxxxxxxx Date
Date:___________________________ Chairman, CEO
