NETRADIO CORP, 10-K405/A, 2000-05-08

NETRADIO CORP
10-K405/A, 2000-05-08
RADIO BROADCASTING STATIONS

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Exhibit 10.30

NETRADIO NETWORK
EMPLOYEE BENEFITS SUMMARY
(Revised 7/21/99)
Richard Hailey

• Starting base salary: $135,000 per year. Performance and salary appraisal on your anniversary date.

• Bonus: You have the opportunity to earn up to 40% of your base salary. This bonus is based on the company achieving its financial objectives and you achieving mutually agreed upon personal goals. The bonus period runs from January 1 through December 31 and is paid 45 days after the fiscal year-end audit pro-rated for this fiscal year.

• Stock Option — You will receive a grant for 50,000 shares of NetRadio Common Stock which vests over a three year period. This option price will be at I.P.O. pricing.

• Employee medical insurance core plan through Medica with co-pays of $10.00 per office visit, $11.00 for pharmacy, and $50.00 for emergency room. Hospitalization is covered at 80% of the first $500.00; 100% thereafter. (Dependent coverage is available at employee’s expense.)

NetRadio pays for 85% of the employee’s cost of medical insurance. The employee’s contribution for coverage cost per pay period is: Single-$13.49, Employee plus One-$103.38 and Family-$152.42.

• Company-paid employee dental insurance through Delta Dental, covering two free cleanings per year and 80/20 payment for routine work. (Dependent coverage is available at employee’s expense.)

• Company-paid life insurance at 1 times salary (up to $50,000).

• Company-paid short-term and long-term disability insurance.

• 401(k) plan program eligibility after six months of employment with April 1 and October 1 entry dates.

• Tuition reimbursement up to $500/semester or quarter, paid based on grade point.

• Three weeks of vacation within first ten years, and 4 weeks thereafter.

• Sick leave of six days annually.

• Nine paid holidays per year.

• Underground parking in the Riverplace parking ramp will be paid for you by NetRadio.

•		Starting base salary: $135,000 per year. Performance and salary appraisal on your anniversary date.

•		Bonus: You have the opportunity to earn up to 40% of your base salary. This bonus is based on the company achieving its financial objectives and you achieving mutually agreed upon personal goals. The bonus period runs from January 1 through December 31 and is paid 45 days after the fiscal year-end audit pro-rated for this fiscal year.

•		Stock Option — You will receive a grant for 50,000 shares of NetRadio Common Stock which vests over a three year period. This option price will be at I.P.O. pricing.

•		Employee medical insurance core plan through Medica with co-pays of $10.00 per office visit, $11.00 for pharmacy, and $50.00 for emergency room. Hospitalization is covered at 80% of the first $500.00; 100% thereafter. (Dependent coverage is available at employee’s expense.)

•		Company-paid employee dental insurance through Delta Dental, covering two free cleanings per year and 80/20 payment for routine work. (Dependent coverage is available at employee’s expense.)

•		Company-paid life insurance at 1 times salary (up to $50,000).

•		Company-paid short-term and long-term disability insurance.

•		401(k) plan program eligibility after six months of employment with April 1 and October 1 entry dates.

•		Tuition reimbursement up to $500/semester or quarter, paid based on grade point.

•		Three weeks of vacation within first ten years, and 4 weeks thereafter.

•		Sick leave of six days annually.

•		Nine paid holidays per year.

•		Underground parking in the Riverplace parking ramp will be paid for you by NetRadio.