[iGo Logo Here]
Mobile Technolgy Outfitter(TM)
October 11, 2000
Gary Bale
5908 Davenhill Court
Plano, TX 75093
Dear Gary:
iGo Corporation (formerly 1-800-Batteries) is pleased to offer you the position
of Senior Vice President, General Merchandise Manager, with a start date to be
determined. This letter embodies all of the terms of our offer of employment to
you and is contingent upon the satisfactory completion of a pre-employment drug
screen and background checks.
Your compensation will be $7,291.66 semi-monthly ($175,000.00 annually) with pay
periods twice a month. You will also be eligible for a bonus of up to 35% of
your annual salary, paid quarterly, 50% of bonus will be tied to individual
performance (goals mutually agreed upon) and 50% to overall company P&L.
Additionally, you will be awarded 100,000 iGo Corporation shares. The shares
vest 25% on the first anniversary date of your employment and monthly
thereafter. Acceleration subject to the attached agreement in the event of a
change in control. Relocation will be $70,000.00, $10,000.00 paid now,
$40,000.00 upon relocation of entire family/house to the Reno, Nevada
metropolitan area and $20,000.00 paid in April 2001. This relocation amount
shall be used for all temporary housing expenses, flight expense, except the
Thanksgiving round trip, and costs incurred on the sale of your existing
residence. In addition, iGo will reimburse actual moving expenses of household
and personal belongings from Texas to Reno. This includes packing of household
and personal items and moving two vehicles. In the event you are terminated
without cause the company will pay you three (3) months severance. You will
report to Mick Delargy, Chief Operations Officer, and work at our facility
located at 9393 Gateway Drive, Reno, NV 89511.
Due to the competitive nature of our industry and our firm commitment to
becoming number one, iGo has set an extremely high standard for the employees we
recruit. Therefore, we will perform performance evaluations annually to coincide
with anniversary dates.
A summary of our benefits are as follows:
o STOCK OPTIONS: 100,000 post split shares at the then current
market value with a 4 year vesting schedule, 25% per year.
o PERSONAL TIME OFF (PTO): 80 hours annually. You will be
eligible to begin utilizing your PTO after 90 days of
employment.
o HEALTH BENEFITS: Full medical, dental and vision benefits. You
will be eligible for coverage on your 91st day of employment.
o 401(K) PLAN: Eligible the first day following your 90-day
introductory. Open enrollment is held quarterly.
As a team member, you will be expected to abide by company rules and
regulations. This employment offer is contingent upon your agreement to the
following items. You will be specifically required to:
1. Successfully pass our reference checking process.
2. Pass a pre-placement drug test and sign a Drug Policy
Acknowledgement form.
3. Sign an I-9 Employment Eligibility Verification and present
required identification confirming your right to work in the
United States. This must be completed no later than three (3)
days after your employment begins.
4. Sign an Employment, Confidential Information, Invention
Assignment, and Arbitration Agreement.
It is the goal of iGo to provide a positive, supportive work environment and a
solid economic foundation upon which all employees may build a future. However,
the Company is also cognizant that personnel changes are sometimes initiated by
employees and management alike. In this regard, Employment at iGo is At Will. As
a iGo team member, you may terminate employment at any time and for any reason
whatsoever. Similarly, iGo may terminate your employment at any time for any
reason whatsoever, with or without cause. This mutual employment arrangement
supersedes all our prior written or oral communication with you and can only be
modified by written agreement signed by the Chief Executive Officer or Chief
Financial Officer of iGo. You should understand, iGo may change your
responsibilities, duties, supervisor, work hours, work location and benefits
programs from time to time, at its discretion, with or without notice.
If you wish to accept employment at iGo under the terms set out above, please
sign and date this letter and return them to me no later than October 16, 2000.
Gary, we are looking forward to having you as a part of the iGo team and have a
keen interest in developing a successful working relationship with you. Please
review the terms of this offer and the At Will employment relationship as an
indicator that we are extremely thorough in our quest to hire and employ only
the most qualified team members. We look forward to your affirmative response
and to a productive and exciting working relationship. If you have any questions
or need further information please do not hesitate to contact me.
Sincerely,
/s/ Debbie Moberly
Debbie Moberly
Director of Human Resources
I agree, by signing below, that iGo has made no promises other than what is
outlined in this letter. It contains the entire offer the Company is making to
me. I, hereby accept this offer and intend to begin my employment on October 23,
2000.
Terms Approved and Accepted: /s/ Gary Bale
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Signature
Gary Bale
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Name
October 19, 2000
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Date