Employment Agreement - Ritz Interactive Inc. and Andre Brysha
[Ritz Interactive Logo]
August 1, 2005
Re: Employment Terms
Dear Mr. Brysha:
You have been employed by Ritz Interactive, Inc. (formerly known as phobo.com, Inc.) (the "Company") since July 12, 1999. The purpose of this letter is to confirm your current status, position and terms of employment.
Your position with the Company is Vice President and Chief Marketing Officer, working out of our Irvine, California office. In this position, you report to the Company's President and Executive Vice President and perform such duties as assigned from time to time.
Your base salary is $272,782 per year, paid in twenty-six (26) bi-weekly installments of $10,491.62. In addition you are eligible for an annual discretionary bonus, the amount of which, if any, will be determined by the Company's Board of Directors based upon a combination of Company and personal performance. You are eligible to participate in all employee welfare and benefit plans offered from time to time to peer employees of the Company, and you are eligible for three weeks of paid vacation per year. You also shall receive a monthly car allowance of $12,200 per year, paid in twenty-six (26) bi-weekly installments of $469.23.
Like all employees of the Company, you have been and will be expected to comply with the rules, procedures, and policies of the Company as distributed to employees from time to time. Employment with the Company is on an at-will basis. This means that either you or the Company may terminate your employment at any time, for any reason, with or without cause. The at-will nature of your employment cannot be modified except by written agreement signed by the Company's President.
During your employment with the Company, you may have or have had access to confidential and proprietary information of the Company. You have signed the Company's standard confidentiality agreement, a copy of which is enclosed.
2010 Main Street, Suite 400, Irvine, CA 92614 — T 949.442.0203 — F 949.255.1560
RitzCamera.com • Photography.com • BoatersWorld.com • FishingOnly.com • BoatingOnly.com
[Ritz Interactive Logo]
Please confirm the accuracy of the above matters by signing in the space provided below.
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Very truly yours,
/s/ Fred H. Lerner
Fred H. Lerner
President and Chief Executive Officer
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Enclosure
I (1) agree to the items stated in this letter and (2) acknowledge that no representations or promises have been made to me regarding my employment with the Company other than as set forth in this letter:
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/s/ Andre Brysha
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9/7/05 |
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Andre Brysha
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2010 Main Street, Suite 400, Irvine, CA 92614 — T 949.442.0203 — F 949.255.1560
RitzCamera.com • Photography.com • BoatersWorld.com • FishingOnly.com • BoatingOnly.com
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