Exhibit 10.15
April 18, 2007
Louis P. Nunes
32 Matchett Street
Boston, MA 02135
Dear Louis:
It is my pleasure to offer you the position of Chief Financial Officer "CFO",
reporting to the CEO. In this position you will be responsible for the overall
financial management of the company. This will include managing all aspects of
accounting, public company compliance, analysis and strategic financial
direction. In addition to these tasks, you will have other general duties as
assigned by your manager.
As we've discussed, this offer is contingent upon receipt of a satisfactory
investigation report of your background, which you will be required to authorize
as a condition of your employment. This contingency is to be settled by no later
than May 30, 2007 or else you can assume we no longer need such checking. If a
background check is performed by a third party you will receive a copy of the
report.
This letter and accompanying enclosures will summarize important details of
matters pertaining to your employment. Our benefits, payroll, and other human
resource management services are provided through Administaff, Inc., a
professional employer organization. Lightspace's current benefits are described
in the document called "Lightspace 2007 Benefits Summary for Full-Time
Employees", a copy of which is enclosed. As a result of Lightspace's arrangement
with Administaff, Administaff will be considered your employer of record for
these purposes and your manager here at Lightspace will be responsible for
working with you in setting your objectives and reviewing your performance at
Lightspace.
Compensation: The Company offers you a base salary of $10,416.67 per month,
$125,000.00 annualized. The Company will also include you in the management
bonus program. This will be a discretionary bonus plan that will be decided on
by the Board of Directors. As the CFO for Lightspace, you will also be a part of
the Employee Stock Option Plan. You will be granted the option to purchase
250,000 shares of Lightspace common stock. These options will vest annually over
a three year term.
Expenses. The company will reimburse you for reasonable and necessary expenses
incurred by you in furtherance of Lightspace's business. All expenses claimed
are subject to the review and approval of your supervisor. Records must be
maintained and submitted for any expenses to be reimbursed - including
destination for auto mileage totals and receipts for all other items.
Company Property. During and after your employment, you will not use any Company
Property for any purpose other than for the benefit of the Company. Except for
business uses related to the performance of your job, you will not remove from
the Company premises any Company Property without written consent of your
supervisor. In the event of your termination of employment, or at any time at
the request of the Company, you will return all Company Property. You will also
return all copies of Company Property, and any Work Product derived from Company
Property.
"Company Property" means Trade Secrets of Lightspace, Work Product, customer
lists, prospect lists, forms, manuals, records, correspondence, contracts,
notes, memoranda, notebooks and other documents of the Company, software media,
equipment, and other intangible and tangible property owned by the Company.
Name & Likeness Rights, etc. You hereby authorize the Company to use, reuse, and
to grant others the right to use and reuse your name, photograph, likeness
(including caricature), voice, and biographical information, and any
reproduction or simulation thereof, in any media now known or hereafter
developed (including but not limited to film, video, and digital, or other
electronic media), both during and after your employment, for whatever purposes
the Company deems necessary, provided that after your employment it is not used
in a manner indicating you are still employed with the company.
Term of Employment. As Lightspace is the company for which you will perform
service, we will retain the right to control and direct your work, its results,
and the manner and means by which your work is accomplished. Your employment
with the Company is at will, and therefore, may be terminated by you or the
Company at any time and for any reason, with or without cause, and with or
without notice. This "at will" employment relationship may not be modified by
any oral or implied agreement.
Additional Benefits. As stated above, Lightspace has contracted with Administaff
to provide payroll, benefits and HR administration services on behalf of
Lightspace. Information about these benefits is included with this letter and
additional information will be available on-line over the web on the terms and
conditions included in the End User License Agreement (EULA) each new employee
must accept in order to access Administaff's on-line self-service portal.
You may indicate your acceptance of this offer by signing on the appropriate
space indicated below. Please bring the necessary documents required to verify
your identity and eligibility to work in the United States. A list of acceptable
documents is described on the enclosed I-9 form. Also, if you have not already
done so, please complete the enclosed Application for Employment for our files
and submit it prior to your first day of work. Finally, as a condition of your
employment, you will be required to sign our Proprietary Information and
Inventions Agreement (enclosed) as well as our standard Arbitration Agreement
(enclosed).
This offer is valid until April 27, 2007. If not signed, accepted and returned
to Lightspace by this date, the offer is automatically withdrawn. We further
understand that your start date will be April 30, 2007.
We are all excited about the opportunity to work with you. On behalf of all our
team members, let me extend a sincere Welcome Aboard!
Sincerely,
Gary Florindo
President & CEO
Enclosures: delivered separately
I accept the above terms of employment as stated:
Signature: Date:
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Louis Nunes