Exhibit 10.2
Employment Agreement with Xxxxxx Xxxxxxx
OFFER:
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TERMS:
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1. TITLE:
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President and Chief Executive Officer
2. REMUNERATION:
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Xx. Xxxxxxx will be granted share purchase options at the
end of the period covered by this agreement as follows:
- 250,000 options at exercisable price of $0.10 and valid
until January 2010.
3. DURATION:
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This agreement is for one-year period starting upon
signature.
4. TERMINATION:
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The Board of Directors of GSI Technologies USA Inc. will
provide you with 30 days notice in writing if the
Corporation or its officers decides to terminate this
agreement.
Xx. Xxxxxxx will provide the Corporation with 30 days notice
in writing if he decides to terminate this agreement.
If any of the parties wish to terminate this agreement, the
options will be given accordingly to the number of working
month plus 30 days notice.
If you accept the terms and conditions contained in this agreement, please sign
it and return it to the Board of Directors as soon as possible.
I accept the above offer on this 16 day of June 2003.
By: /s/ Xxxxx El-Ahmar Eid By: /s/ Xxxxxx Xxxxxxx
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Xxxxx El-Ahmar Eid Xxxxxx Xxxxxxx
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