EXHIBIT 10.36
April 6, 2001
Roger Hackett
Dear Roger:
I am pleased to offer you the position of President and General Manager of
Sensory Science, reporting directly to me. The details of your offer are as
follows:
- A bi-weekly salary of $12,115.38 ($315,000.00 annualized).
- A stock option grant of 150,000 shares subject to approval by
the SONICblue Board of Directors. In connection with this grant,
you will be required to sign and abide by the terms of SONICblue
Incorporated's form of Common Stock Option Agreement, which has
a four-year vesting schedule with an initial six-month exercise
cliff.
- Eligibility to participate in the 2001 management incentive plan
at a target of 60% of annual base salary.
In addition, SONICblue provides an excellent benefits program which includes a
choice of medical benefits coverage, dental insurance, vision care, 401(k)
retirement plan, employee stock purchase plan, profit sharing plan, paid
sabbatical leave, tuition reimbursement, short-term and long-term disability,
life insurance, and more!
SONICblue prides itself on providing state-of-the-art digital media solutions to
the consumer device industry and beyond. Our success is driven by the
creativity, resourcefulness and energy of team members who have made the
commitment to maintain high moral and ethical standards in the performance of
their jobs. SONICblue strives to create a work environment that is both
challenging on a professional level and satisfying on a personal level.
This offer is contingent upon an investigation of references given, employment
history, criminal record, education, and/or other factors pertaining to your
status as an employee. Furthermore, this offer is in compliance with the
Immigration Reform and Control Act of 1986, which requires the Company to verify
that each employee hired is legally entitled to work in the United States.
Your employment with SONICblue will be at will. Employment "at will" means that
you are free to resign from your employment at any time, for any reason or no
reason at all, with or without cause and
1
with or without notice. Similarly, SONICblue may terminate your employment at
any time for any legal reason, with or without cause and with or without notice.
By accepting this offer of employment, you agree that your employment is at
will, and acknowledge that no one has the authority to promise you, either
orally or in writing, anything to the contrary.
As a condition of your employment with SONICblue, you will be required to
execute and abide by the terms of the company's standard form of Employee
Proprietary Information & Invention and Arbitration Agreements. In the event of
any dispute or claim relating to, or arising out of, your employment
relationship with SONICblue, you and the Company agree that all such disputes,
including but not limited to, claims of harassment, discrimination and wrongful
termination, shall be settled by arbitration held in Santa Clara County,
California, under the Arbitration Rules set forth in California Code of Civil
Procedure Section 1280, et seq., including section 1283.05, (the "Rules") and
pursuant to California law. A copy of the Rules will be attached as an exhibit
to the arbitration agreement, which will be provided to you during your
orientation. In addition, on the first day of your employment with SONICblue,
you will be required to provide proof of eligibility to work in the United
States.
The terms described in this letter and your Employee Proprietary Information &
Invention Agreement and Arbitration Agreements replace any prior oral or written
agreement, understandings, and promises between SONICblue and you concerning the
terms and conditions of your employment with SONICblue. By signing this letter,
you acknowledge that you have not relied on any previous oral or implied
representations, inducements or understandings of any kind or nature in
accepting employment with SONICblue.
This offer of employment (and all terms contained in this offer) is conditioned
upon, and, if accepted will become effective at the time of, SONICblue
Incorporated's acquisition of Sensory Science Corporation.
Roger, we are very excited about you joining the SONICblue team and assisting us
in continuing to maintain our leadership in the consumer device market. Please
sign below to acknowledge your acceptance of this offer and return to SONICblue
Human Resources, attention Terese Farkas (__________), before 5:00 p.m. Pacific
Standard Time on Tuesday, April 11, 2001 at which time this offer will expire.
Sincerely,
/s/ Terese Farkas for Ken Potashner
- -----------------------------------
Ken Potashner
Chairman, Chief Executive Officer, and President
/s/ Roger Hackett
- -----------------------------------
Roger Hackett
Acknowledge and accept offer on April 11, 2001.
November 13, 2001
Roger Hackett
- ------------------------
- ------------------------
Subject: SONICblue Annual Bonus Plan
Dear Roger:
Your offer letter from SONICblue ("Company") dated April 6, 2001, states that
you are eligible to participate in the Company's 2001 Annual Bonus Plan at a
target of 60% of your annual base salary.
Per the Annual Bonus Plan Policy, eligible salary is determined based upon the
length of employment with the Company during the Plan year. For the Plan year
2001, we will make an exception for you and allow your bonus to be paid based
upon a full year of employment contingent on Sensory Science achieving $40
million in revenue in the fourth quarter. This bonus will be paid in accordance
with the Annual Bonus Plan Policy.
Due to the discretionary nature of the information contained in this letter, I
ask that you keep its contents confidential.
Congratulations and thank you,
/s/ Terese Farkas
- -----------------
Terese Farkas
Senior Vice President
Human Resources and Administration
cc: Ken Potashner
John Todd
Personnel File