I am pleased to offer you an employment position with GCT Semiconductor, Inc. (the Company or GCT) pursuant to the following terms and conditions:
Employment Duties. Your employment with GCT shall be in the position of Vice President of Finance and Administration & Chief Financial Officer. As a Vice President of Finance and Administration & CFO, you will be required to work as an integral part of the senior management team in developing our financial and administrative functions. Your responsibilities may include the following. In coordination with other departments, you will be required to develop and implement product cost reduction and overhead cost reduction systems, with forecasting, monitoring and analysis tools suitable for a fabless semiconductor operation. This position requires that you develop a close working relationship with the President and Chief Executive Officer of the Company and that you present thorough and accurate financial and operating information to the Board of Directors of the Company. In addition, you will be required to implement reliable accounting practices for the Company in preparation for an initial public offering. As such, you will be responsible for, among other things, structuring internal controls and procedures, managing cash flow projections, managing investment policies and the relationships with financial institutions and insuring US GAAP and tax law compliance for the Company and its subsidiaries in Korea. In addition to these core finance duties, you will be responsible for overseeing the general operational affairs of the Company and any other tasks that may be assigned to you from time to time by the management of the Company. You will report to Kyeongho Lee, the President and Chief Executive Officer of the Company. As an employee on a full-time basis, you are expected to devote your full time, ability, attention, energy and skills solely and exclusively in performing all of your duties for the Company.