Exhibit 10.67
May 30, 2000
HAND DELIVERED
Mr. Todd W. Schorr
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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.
