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Sarah
Cooper
250 W. El
Camino Real
Apt.
2410
Sunnyvale,
California 94087-1378
Dear
Sarah,
We are pleased
to extend to you an offer of employment as the Chief Technology
Officer of NaturalNano, Inc. (“the company”) effective
October 1, 2005. Your annual full time salary will be $110,000
which will be paid on a bi-weekly basis at the rate of $4,230.76 in
gross wages every two weeks. You will be entitled to four weeks
vacation (20 days) annually, earned on a pro-rata basis of 1.67
days each month. You will be eligible for a review of this
compensation package effective January 1, 2006. In addition to your
base salary, upon acceptance of this offer you shall receive a
signing bonus in the amount of $7,000.00
In addition to
the statutory benefits defined by federal and local laws, (FICA,
FUTA, applicable State Disability Insurance and Workers
Compensation) you will be entitled to the benefits available to
other NaturalNano officers and employees. Currently this includes
employer paid health and dental insurance coverage. You will also
be eligible for an initial grant of 300,000 stock options at grant
price of $.10
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