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July 22, 2009
Mr. James Kackley
Dear Jim,
As a follow-up to our previous
conversation, we are pleased to offer you a position in our
organization. The general parameters of our offer are as
follows:
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Position:
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President &
COO
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Direct
Report:
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Neal
Verfuerth
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Target
Bonus:
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75% of Base
Salary for Fiscal 2010 (subject to the terms of the Orion Energy
Systems, Inc. (“Orion”) Executive Fiscal Year 2010
Annual Cash Incentive Program).
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Automobile
Allowance
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$1,000 per
month, plus mileage reimbursement for business use (including
mileage reimbursement for periodic commutes between Manitowoc and
Mineral Point).
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Housing
Allowance
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Reimbursement
for actual out-of-pocket temporary living expenses in Manitowoc for
the first year of employment, subject to review and reapproval by
the Compensation Committee after one year.
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Medical and
Prescription Drugs:
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Health coverage
under a group plan, subject to deductible and co-payments.
Eligibility begins first of the month following 60 days of
employment.
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Flexible
Spending
Account:
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Pre-tax
earnings may be set aside for qualified health care and dependent
care expenses. Eligibility begins first of the month following 60
days of employment.
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Vacation:
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21 days per
year. Eligibility begins first of the month following 60 days of
employment.
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Short and Long
Term Disability Insurance:
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Income
protection for covered events, subject to group plan provisions.
Eligibility begins first of the month following 60 days of
employment.
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Life
Insurance:
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Coverage under
a group plan. Eligibility begins first of the month following 60
days of employment.
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401(k):
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Pre- and/or
post-tax contributions, subject to Plan provisions. Company match
up to $150 annually. Eligibility begins on the first day of the
calendar quarter following 90 days
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