Employment Agreement - Converse Inc. and Lisa A. Kempa
April 16, 2001
PERSONAL & CONFIDENTIAL
Lisa A. Kempa
2035 Filbert #205
San Francisco, CA 94123
Lisa:
I am pleased to confirm our offer of employment as Vice President of
Finance at Converse Inc. ("the Company"). In this position you will report to
the CEO, Jack Boys. Your start date will be May 1, 2001.
COMPENSATION:
If you decide to join us, you will receive an annual salary of $145,000.00
which will be paid commensurate with the normal payroll cycle of the company.
The following benefits will be provided by Converse, Inc.
BENEFITS PACKAGE
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EMPLOYEE BENEFITS:
You will be eligible for medical and dental benefits based upon the
Company's Employee Benefit Program.
PAID TIME OFF:
You will be eligible for twenty days of Paid Time Off (PTO) on an annual
basis to be used for vacation, illness or personal business. Additionally,
floating holidays will be determined on a Company-wide basis annually.
MANAGEMENT INCENTIVE PLAN:
You will be participating in the Executive Management Incentive Plan, which
provides for bonus compensation based upon both the Company's and your
individual performance. This Plan is subject to Board of Directors approval.
STOCK INCENTIVE PLAN:
You will participate in the Executive Management Stock Incentive Plan. This
Plan is subject to Board of Directors approval.
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Lisa A. Kempa
April 16, 2001
Page 2
SEPARATION:
If the employee is terminated for any reason other than material misconduct
or criminal action the Company will pay six months of salary based on employees
existing level of annual compensation.
RELOCATION:
Reasonable relocation costs to be mutually agreed upon and up to six months
of temporary living expenses will be provided by the Company.
To indicate your acceptance of the Company's offer, please sign and date
this letter in the space provided below and return it to me within one week from
the date of this letter. This letter, along with any agreements relating to
confidential information between you and Converse Inc., set forth the terms of
your employment with Converse, Inc. and supersedes any prior representations or
agreements, whether written or oral. This letter may not be modified or amended
except by a written agreement, signed by Converse Inc. and by you.
Please contact me if you have any questions regarding this employment offer
or any points covered in this letter. We look forward to receiving your positive
response and look forward to working with you as you join the Converse team.
I hereby agree and/or accept employment with Converse, Inc. and the terms
set forth above. I understand and agree to keep the contents of this letter
confidential.
Signature and Date:
/s/ Marsden Cason
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Marsden Cason, President
Footwear Acquisitions, Inc.
Signature and Date:
/s/ Lisa Kempa
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Lisa A. Kempa