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EXHIBIT 10.8
AGREEMENT BETWEEN THE COMPANY AND XXXXXXX X. XXXXX
We are pleased to offer you the position of Executive Vice President, Marketing,
for Data Dimensions, Inc. You will be located in Bellevue and will report
directly to me. It is hoped that you will commence your employment on Monday,
October 12, 1997, or earlier, if practicable.
Your compensation package will consist of:
o Monthly salary of $13,750 (annual $165,000), paid in accordance with our
payroll schedule, which is currently bi-weekly as earned.
o You will be eligible for a performance bonus of between 30% and 50% of your
base annualized salary for fiscal year 1999, commencing January 1, 1999.
This bonus will be predicated upon meeting mutually agreed-upon performance
objectives.
o Options to purchase 80,000 shares of Data Dimensions, Inc., common stock
subject to the approval of the Board of Directors. The exercise price of
the options will be based on the market close on the day you begin
employment with Data Dimensions, Inc. The options will vest in quarters
(25%), annually, on the anniversary date of your employment.
In the event your employment is terminated for other than cause, your
salary, benefits and stock options will be extended for six months. In the
event there is a change in Company ownership, your salary and benefits will
be extended for six months and your stock options will be completely
vested.
Company standard vacation, group medical and other benefits, as outlined in
the Employee Handbook (enclosed).
A moving and living allowance of $15,000 will be provided to you to allocate in
any way you see fit. (It is our understanding that actual expenses incurred in
the relocation are tax deductible. The remainder, if any, will be considered
current income.)
There are other details to be discussed. I suggest you plan to meet with me
before your official start date. Please schedule a convenient time with my
assistant Xxxxx Xxxxxxxx.
Please indicate your acceptance by signing below and returning a copy to me.
Xxx, we look forward to working with you as we continue to make Data Dimensions
a success.
Sincerely,
DATA DIMENSIONS, INC.
/S/ XXXXX X. XXXXXX
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Xxxxx X. Xxxxxx,
Chief Executive Officer and President
Accepted and Agreed to by:
/S/ XXXXXXX X. XXXXX September 28, 1998
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Xxxxxxx X. Xxxxx Date
