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Offer With Stock Options Clause
OFFER WITH STOCK OPTIONS CLAUSE
[Date]
[Mr/Mrs/Ms/Dr] [First Name of applicant] [Last Name of applicant]
[Title of applicant]
[Company of applicant]
[Address of applicant]
[City of applicant], [State of applicant] [Zip Code of applicant]
Dear [Mr/Mrs/Ms/Dr] [Last Name of applicant]:
This letter is to confirm the agreement we reached regarding your employment as our [Job Title].
The agreement will remain effective for [Period agreement is valid] years from the first day of employment of [first date of employment]. During this period, your time and efforts will be devoted to the business. It is also understood that all duties and projects assigned to you by the company president, or the Board of Directors will be accomplished in a professional manner.
The starting annual salary will be $ [Base annual salary per year], paid in equal increments on the first of each month. You are eligible to participate in most of our employee benefit package [Months to become eligible for benefits] months from the beginning of your employment. Fringe benefits include two weeks paid vacation. Refer to the Employee Guide for further details.
As further compensation, you are eligible to participate in our stock option plan. Up to [Number of shares] shares of our Class A common stock may be purchased annually after each anniversary date, beginning on your first anniversary of employment with the company. To exercise this option, you must submit written notice to that effect to the corporate secretary between [Initial date to exercise option] and [Last date to exercise option], accompanied by payment of $ [Price per share] for each share you wish to purchase.
This agreement may be terminated by us upon [Days notice for termination] days written notice and payment of one months salary.
Please confirm this agreement by signing the attached form and returning it to us and keep a copy for your records.
Sincerely,
[Name of employer]
[Title of employer]
[Phone of employer]