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Exhibit 10.108
February 8, 2006
Mr. Richard Segil
14363 Trailwind Road
Poway, CA 92064
Dear Mr. Segil:
Path 1 Network Technologies, Inc. is
a leader in broadcast quality video transport over IP technology.
We are committed to developing world-class, cutting-edge products
and to providing our employees a dynamic workplace that fosters
innovation.
We are excited that you have
expressed an interest in joining our team and believe your
capabilities and professional aspirations match Path 1’s
needs and high expectations. We are therefore pleased to make the
following offer of employment.
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Position:
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Vice President,
Marketing
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Reporting
to:
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Thomas
Tullie
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Classification:
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Full Time,
Exempt
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Base
Salary:
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You will
receive a base salary of $7,500.00 per pay period (annualized rate
of $180,000) in accordance with Path 1’s standard payroll
cycle, which is currently semi-monthly.
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Performance
Bonus:
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Provided that
you meet achievement milestones established by the President and
CEO, and subject to approval of the bonus pool and individual
participation by the Board of Directors of Path 1 (the
“Board”), you will be eligible to receive a performance
bonus of up to a maximum of twenty-five percent (25%) of your Base
Salary.
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Page 1 of 4
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Stock
Options:
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Subject to
Board approval, stock options on 70,000 shares of Common Stock with
an exercise price at fair market value on the date of grant,
vesting in sixteen (16) equal quarterly installments over a period
of four (4) years in accordance with the Company’s 2000 or
2004 Stock Option/Stock Issuance Plans.
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Restricted
Stock:
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Subject to
Board approval, 30,000 restricted shares pursuant to the 2000 or
2004 Stock Option/Stock Issuance Plan. The restricted stock shall
vest in sixteen (16) equal quarterly installments over a period of
four (4) years.
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Benefits:
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As an employee
of Path 1 you will be eligible to participate in the standard
benefits programs for yourself and your eligible depen
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