Exhibit 10.33
[Logo Omitted]
International DisplayWorks, Inc.
000 Xxxxx Xxxxx,
Xxxxx 000 Xxxxxxxx Xxxxx/Xxxxxxxx Xxxxxx,
Xxxxxxx, XX 00000
XXX
Xxx X Xxxxxxxxxx
Hong Kong
6th November 2002
Dear Ian,
Employment Agreement
--------------------
Further to our discussions on the organization structure of IDW and human
resource planning I am pleased to confirm the terms of your employment as Chief
Financial Officer (CFO) of IDW Inc.
Duties and Responsibilities:
You will report to me directly whilst making such reports and liaison with
members of the Audit Committee as required for good governance of the company.
o All those duties normally associated with the position of CFO of a group
with international operations and subsidiaries in a number of countries
including:
o Organization of accounting and internal control and associated systems to
ensure compliance with US and local reporting requirements of the
financial and fiscal affairs of each group company including maintenance
of internal and disclosure controls as necessary together with the
necessary liaison with the audit committee and external auditors.
o Control of treasury operations.
o Risk Management
o Management Accounting
As this position is overseas I confirm that your employment will be on
expatriate terms as follows:
1. An after tax salary of US$100,000 per annum paid monthly in arrear
2. You will participate in the executive bonus scheme on a deemed salary of
US$150,000 per annum
3. Participation in the company's stock option plan
4. Accommodation and schooling for your children to international standards
together with appropriate transport and ancillary benefits normally
associated with an overseas posting
5. In recognition of the commitment an overseas posting requires, the
initial term of this contract shall be for two years expiring on October
31st 2004 and shall be renewed annually for a two year term commencing
October 31st 2003. In the event of termination or failure to renew on
terms at least as favorable as those in force when renewal is due the
company shall pay the balance of salary due under the unexpired portion
of the contract and shall continue the provision of accommodation and
schooling until the end of the current school year.
Would you please countersign a copy of this letter to indicate your acceptance
of the above for our records.
Sincerely,
Xxxxx Xxxxxxx.
CEO
