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EXHIBIT 10.2
ADVANCED COMMUNICATION SYSTEMS, INC.
January 2, 1997
Dev Ganesan
0000 Xxxxx Xxxxx Xxxx
Xxxxx, XX 00000
EMPLOYMENT AGREEMENT:
Dear Xx. Xxxxxxx:
Advanced Communication Systems, Inc. (ACS) is pleased to extend this offer of
employment as Chief Financial Officer. Your semi-monthly salary will be
$5,000.00, commencing on or about February 1, 1997, with a $25,000 bonus to be
paid upon commencing employment with ACS.
ACS will provide you with annual leave of four weeks. You will receive nine
paid holidays. ACS also provides an employer-contributed retirement plan
(401K), as well as a comprehensive-health/life insurance plan (life insurance in
the amount of $50,000).
The first year annual bonus will be paid in the amount of $25,000.00 for the
accomplishment of specific mutually agreed upon objectives.
170 shares of stock will be granted at $4,400/share and will be exercisable in 4
equal annual increments:
42.50 shares exercisable on or after 1 January, 1998.
42.50 shares exercisable on or after 1 January, 1999.
42.50 shares exercisable on or after 1 January, 2000.
42.50 shares exercisable on or after 1 January, 2001.
All unexercised options will expire on January 1, 2005.
Arrangements will be made to define benefits as due to any possible change in
control over 2 year period from date of hire.
00000 Xxx Xxxxxxx - Xxxxxxx, XX 00000 - (000)000-0000 - Fax (000)000-0000
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Severance package will be determined within 10 days of date of employment in the
event that Xx. Xxxxxxx'x employment should be severed without cause within the
2 year period from date of employment.
We look forward to having you join our staff. If you accept this offer please
sign and return this agreement by January 10, 1997.
Sincerely, /s/ DEV GANESAN
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Dev Ganesan
/s/ XXXXXX X. XXXXXXXX 1/2/97
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Xxxxxx X. Xxxxxxxx Date
President
