ContractEmployment Agreement • February 12th, 2002 • Gateway Inc • Electronic computers • California
EMPLOYMENT AGREEMENT This Employment Agreement (“Agreement”) by and between Gateway, Inc., a Delaware corporation (the “Company”), and Susan B. Parks (the “Executive”) is made as of August 1, 2000. 1. Employment Period; Coordination with Change of Control Compensation Agreement.
ContractGateway Inc • February 12th, 2002 • Electronic computers
November 29, 2001 Ms. Susan B. Parks 6 Burning Tree Laguna Nigel, CA 92677 Re: Rancho Santa Fe Property Dear Sue: This letter will confirm that the Company will purchase (or cause a third-party to purchase) your property at 5340 Maravillas, Rancho Santa Fe, California (“Rancho Santa Fe Property”) as soon as reasonably feasible. The purchase price will be an amount equal to the amount you paid when you originally purchased the property, i.e. $3,250,000, plus the cost of capital improvements to the Rancho Santa Fe Property paid for by you at or prior to the date of closing and which are evidenced by receipts satisfactory to the Company (the “Capital Improvement Costs”). At closing, all mortgages and other encumbrances will be discharged or otherwise satisfied in full from the purchase proceeds such that title will be free and clear (except for standard exceptions), fully marketable and insurable at regular rates by a California title insurance company. You will be paid at closing the
ContractAgreement and General Release • February 12th, 2002 • Gateway Inc • Electronic computers • Delaware
AGREEMENT AND GENERAL RELEASE This AGREEMENT AND GENERAL RELEASE (“Agreement”) is made and entered into by and between Susan B. Parks (hereinafter “Employee”) and Gateway, Inc., a corporation having its principal office at 14303 Gateway Place, Poway, CA, including its subsidiaries (“Gateway” or “Company”). WITNESSETH: WHEREAS, Employee is currently employed as Senior Vice President, U.S. Markets; and WHEREAS, the Company and Employee have mutually agreed to sever the employment relationship; and WHEREAS, the Company has advised Employee that Employee’s off payroll date will be 11:59 PM PST on December 31, 2001 (“Separation Date”); and WHEREAS, this Agreement is being provided in connection with the requirement of Section 6 of Employee’s Employment Agreement (“Employment Agreement”); and WHEREAS, Employee understands that, pursuant to Section 6 of the Employment Agreement, her execution and non-revocation of this Agreement constitutes a condition precedent to the Company’s obligations
