EXHIBIT 10.29
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FUNCTIONAL MANAGEMENT TEAM EMPLOYMENT AGREEMENT
THIS AGREEMENT is made between EXTENDED SYSTEMS OF IDAHO, INCORPORATED (ESI) and
Kerrin Pease (EMPLOYEE) for the employment of EMPLOYEE by ESI.
IT IS AGREED BETWEEN THE PARTIES:
1. EMPLOYMENT: ESI hereby hires EMPLOYEE and EMPLOYEE accepts employment with
ESI as Vice President of Worldwide R&D.
2. TERMS OF EMPLOYMENT: This Agreement shall commence the 19th day of
December, 2001 and shall continue until terminated by either party pursuant
to paragraph five.
3. COMPENSATION: The EMPLOYEE shall receive as compensation for his/her
services the amount of $15,000 per month plus all employee benefits as set
forth in the current issue of the Extended Systems Employee Handbook.
4. DUTIES OF EMPLOYEE: EMPLOYEE shall have the duties and authority as set
forth in the job description.
5. VACATION: EMPLOYEE shall accumulate paid vacation as set forth in Extended
Systems Time-Off Policy.
6. TRAVEL EXPENSES: EMPLOYEE shall be reimbursed for all authorized travel and
lodging expenses.
7. FRINGE BENEFITS: Fringe benefits shall be provided by ESI as set forth in
the Extended Systems Employee Handbook which is located on the HR Intranet.
I understand that I am responsible for familiarizing myself with the
contents of the handbook. I understand that the contents in the Employee
Handbook are subject to change at Extended Systems' discretion and do not
create any contractual commitments by the Company. /s/ KP (Employee
Initials)
8. DRUG AND ALCOHOL POLICY: EMPLOYEE agrees to abide by the terms of the
Extended Systems Drug and Alcohol Policy. Receipt of Drug and Alcohol
Policy is hereby acknowledged. /s/ KP (Employee Initials).
9. NON-DISCLOSURE AGREEMENT: EMPLOYEE agrees to abide by the terms of the
Extended Systems Non-Disclosure Agreement.
10. INSIDER TRADING POLICY: EMPLOYEE agrees to abide by the terms of Extended
Systems' Insider Trading Policy.
11. NOTICE OF TERMINATION: With or without good cause either party may
terminate this agreement by giving fourteen (14) days written notice to the
other party. Termination of this Agreement shall not terminate the
NONDISCLOSURE AGREEMENT between the parties.
12. SEVERANCE PAY: In the event EMPLOYEE is terminated without cause, EMPLOYEE
shall be entitled to six (6) months of pay, at EMPLOYEE'S current base
salary, plus $2,000.00 in lieu of fringe benefits, and payout of accrued
vacation. In order to receive such salary and fringe benefits payment,
EMPLOYEE must execute the then current company "Release of All Employment
Claims." Participation in all stock option plans, stock purchase plans, and
other company personnel benefits shall cease on the EMPLOYEE's date of
termination, subject to the specific provisions of option agreements or
plans that may extend EMPLOYEE's rights beyond date of termination. If
EMPLOYEE is removed from the Functional Management Team (FMT) into another
position within ESI, the EMPLOYEE shall only be entitled to receive a pro
rata severance payment. For example, if EMPLOYEE is removed from the
Functional Management Team into another position, and 3-months later is
terminated without cause from the new position, EMPLOYEE would be entitled
to receive a pro-rata amount of the 6-months termination pay and fringe
benefits payment (3-months base salary and $1,000.00 fringe benefits
payment). As another example, if EMPLOYEE is in the new position for
9-months and is then terminated, no termination payment would be due under
this agreement. In the event of a change of control of the company or if
the company is acquired by another company, person or entity, the six (6)
month base salary termination payment shall be increased to twelve (12)
months. EMPLOYEE is responsible for any tax consequences triggered by
severance payment or a change in control.
DATED this 19th day of December, 2001.
/s/ Kerrin Pease /s/ Steven D. Simpson
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FUNCTIONAL MANAGEMENT TEAM EMPLOYEE EXTENDED SYSTEMS