Exhibit 10.03
March 28, 2002
Xxxxxxx Given
Hybrid Networks, Inc.
0000 Xxxxxxxxx Xxxxx Xxxx
Xxx Xxxx, XX 00000
Dear Xxxx,
This Letter Agreement will confirm that in connection with and in consideration
of your continued employment with Hybrid Networks, Inc. ("Hybrid") Hybrid and
you agree as follows:
1. At Hybrid's request you will remain employed by Hybrid for up to sixty (60)
days following the date hereof, or, until such time that Hybrid is no longer
able to pay you your regular base salary (the "Retention Period") provided that
Hybrid continues to pay your current base salary at its regular periodic payroll
dates;
2. You will receive a Severance Payment of $6,666.67, (the "Severance Payment"),
which is equal to two weeks of your regular base salary;
3. You will receive a Retention Bonus of $13,333.34, (the "Retention Bonus")
which is equal to four weeks of your regular salary, payable upon Hybrid's
receipt of a signed copy of a release and a signed copy of this Letter
Agreement. The Retention Bonus will be returned by you to the Company if you
voluntarily terminate your employment with the Company before the expiration of
the Retention Period; and
Please acknowledge your acceptance of this Letter Agreement by signing below and
returning this letter to me as soon as possible.
If you have any questions concerning this offer, please call me at (408)
000-0000.
Sincerely,
Xxxxxxx X. Xxxxxxxxx
President and CEO
I have reviewed the above Letter Agreement and understand and agree to the terms
under which I will continue to be employed with Hybrid Networks, Inc.
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Date [name]
