OFFER OF EMPLOYMENTExecutive Employment Agreement |
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SIRVA INC | Todd W. Schorr | Allied Worldwide, Inc. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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Search Executive Employment Agreement by:
Exhibit 10.67
May 30, 2000
HAND DELIVERED
Mr. Todd W. Schorr
xxxxxxxxxxxxxxxxx
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Dear Todd:
I am pleased to confirm the terms of the offer of employment to you at Allied Worldwide, Inc.’s (“Allied”) offices in Naperville, Illinois. The offer is as follows:
Position: Senior Vice President, Human Resources
for Allied Worldwide, Inc. reporting to Jeff Gannon, President and
CEO. You will also participate as a member of the Corporate Executive
Council.
Salary:
$175,000 per year, payable in bi-weekly
installments. For the first year, there will be a signing bonus of
$25,000 paid within thirty (30) days after your start of employment. All
payments are subject to taxes and other withholdings which may be required.
Start
Date:
June 15, 2000.
Annual
Bonus:
You will be eligible to participate in
Allied’s Management Incentive Program with a projected annualized target
bonus of 80% of base salary, which can be exceeded for extraordinary
performance. Your first year of participation will be prorated from
June 1, 2000, provided your start date is no later than June 15,
2000.
Long-Term
Performance Plan:
You will also be eligible to participate
in a new long-term performance plan, on a prorated basis, under which you can
receive up to $150% of your average age annual compensation (defined as salary
and incentive compensation actually received in respect of 2000, 2001 and
2002), if the pre-established performance criteria are achieved.






