July 25, 2007 Mr. Mark Hahn Raleigh, NC 27613 Dear Mark:
Mossy Ridge Ct.
of GigaBeam Corporation (“GigaBeam” or “Company”), I am pleased to offer you the
position of Vice President of Finance and Administration and Chief Financial
Officer. The position will commence on or before August 14th,
This offer is valid through the end of the day on July 28th,
following is a description of the terms and conditions of your
and Responsibility: As
President of Finance and Administration and Chief Financial Officer, you will
expected to perform as the senior financial executive for the Company operating
within the guidelines and rules as set forth by the Securities and Exchange
Commission and Sarbanes Oxley. You will be expected to build and lead a team
manage the day to day finance and administration requirements of the Company,
accounting and reporting, on time SEC reporting and filings so that the business
is at all times compliant. You will also be instrumental in assisting with
communication of our Company’s message and performance to our investor community
through direct and indirect interactions as necessary. You will also have
overall responsibility for Human Resources and Legal functions for the Company.
You can also be expected to be assigned other responsibilities.
Lawrence - President and Chief Operating Officer and the Audit Committee for
monthly rate $15,833.33, annualized to $190,000, to be paid in accordance with
GigaBeam’s normal payroll practices and procedures. You will also be eligible to
participate in bonus and incentive programs as outlined below.
will be paid based on GigaBeam’s executive bonus program as set forth by the
compensation committees of Board of Directors. Awarded bonuses will be paid
annually unless special bonuses are granted.
and Bonus Reviews:
salary, bonus and commission incentive plan will be reviewed annually. Your
initial review will be on or about December 2007; and subsequent annual reviews
will occur on or about December of each year. Any increase in compensation
be based on your performance and success in your role as Vice President of
Finance and Administration and CFO and, at the sole discretion of the Company
and based upon the performance of GigaBeam.
to approval by the Board of Directors, you will be eligible for Nonqualified
Stock Options to purchase 125,000 shares of GigaBeam Common Stock at an exercise
price to be set by the Board of Directors pursuant to our 2004 Stock Option
Plan, as amended. The options will vest at 33 1/3% per year commencing on the
first anniversary of the date of grant and will terminate ten years after the
date of grant.
Work Location: GigaBeam’s
headquarters are based at 4021 Stirrup Creek Dr., Suite 400, Durham, NC 27703.
Travel will be required on occasion and you will be expected to purchase
reasonable cost effective travel which will be reimbursed by the
Company has established a group health benefit program currently with United
Health Care and a group dental plan currently with Guardian as well as
Long Term Disability Insurance and Life/AD&D Insurance in which you
may participate if eligible under the terms of those programs/plans. These
benefits and benefit providers may change from time to time at the
discretion of the Company. If you elect to participate in the group health
and/or group dental program, your coverage would commence on the first day
of the month following your date of hire. The Company has seven (7) fixed
holidays and three (3) floating holidays which you choose and arrange with
your supervisor for a total of ten (10) holidays in accordance with Company
policy. You can find out more information on these plans from Ann Graham
at (240) 876-5132.
receive four (4) weeks of paid vacation per year. Which will be earned at a
of 13.33 hours/month in accordance with the Company’s vacation
accordance with GigaBeam’s standard employment practices, you will be required
to sign an agreement covering Company Information and Inventions, and Company
policy statements related to insider trading, code of business conduct,
corporate communications and other policies as established by the Company from
time to time.
signing below, you acknowledge your understanding that your employment
relationship with GigaBeam is terminable at will. You further acknowledge your
understanding that you are free to leave your employment at any time, for any
reason, either with or without cause and with or without notice, and that
GigaBeam retains the same right to end the employment relationship at any time,
for any reason, either with or without cause, and with or without advance
notice. Accordingly, this letter does not create a contract of employment.
at will nature of your employment with GigaBeam may only be altered if you
the Company agree do so by written agreement.
offer of employment will expire on Friday, July 20th
of business. Please respond by email to me (firstname.lastname@example.org)
acceptable, return a copy of this signed offer by overnight courier to GigaBeam
Corporation, 4021 Stirrup Creek Dr. Suite 400, Durham, NC. Attn: Human
look forward to having you join us, and I am confident that you will be an
outstanding addition to the GigaBeam team. If you have any questions, please
contact me at 858-414-3209 (Cell).