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Exhibit 10.17
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November 15, 1996
Mr. Raj Mitta REVISED
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9B Marine View
Discovery Bay
Hong Kong
Dear Mr. Mitta:
We are pleased to extend to you this offer of employment to join Arthur D.
Little Far East, Inc. as Managing Director Southeast Asia/Regional Practice
Leader Telecoms reporting to Mr. Michael J. McGaughey, Senior Vice President and
Directorate Managing Director of the Asia Pacific Management Consulting
Directorate.
As mutually agreed upon, you will be based in Singapore. During your
employment, Arthur D. Little may, with your concurrence, assign you to other
geographic locations as business might require. The company would provide
relocation assistance.
Your remuneration package will be as follows:
. Base salary will be the equivalent of U.S. $300,000 per annum, paid
monthly.
. Profit sharing will be the equivalent of U.S. $32,100 per annum (at
company plan performance) paid quarterly, based on the actual company
performance.
. Annual incentive compensation will be 60% of base pay (equivalent of
U.S. $180,000) for achievement of target performance.
. In addition, the company will provide you U.S. $300,000 of Arthur D.
Little stock to vest under the following schedule:
. $100,000 on January 1, 1997
. $100,000 on January 1, 1998
. $100,000 on January 1, 2000
In addition, in the event that you are terminated or you
voluntarily leave the firm, the January 1, 1997 vested portion of
your ADL stock will be prorated in relationship to the months of
service with the firm during the first two years of anticipated
employment.
. The company will provide you:
. Medical/Dental health coverage
. Life-insurance
. Disability insurance
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. Deferred compensation package which will represent 17.2% of only
your actual profit sharing and incentive compensation pay
We have set forth the following elements which define your relocation
program and additional thoughts regarding current and potential future roles.
Housing Allowance
The company expects the employee to secure a work location housing standard
similar to his original home location standard. Transfer location housing is not
intended to be an exact duplication of home location housing and must take into
consideration local standards. The company will seek and pay the housing
allowance in the most cost and tax effective manner in accordance with local law
and practice.
Relocation
The company will provide reimbursement for the move of your household goods
and family to Singapore.
Educational Allowance
The company will provide an allowance for each child's education in the
local country in order to provide home country equivalence relative to nature
and structure of education.
Home Visit
The company will provide for one home visit per year for the employee and
his dependents. Air travel will be reimbursed at business class airfare rates.
Car Allowance
The company will provide the employee a lease allowance for one automobile
equivalent to the status of his position in the work location. The company will
also pay the expenses of maintenance, insurance and registration for the
duration of the employee's assignment.
Club Membership
The company will reimburse the employee for an appropriate club membership
in the new work location for the duration of your assignment.
Tax Planning
The company will provide reimbursement for yearly tax planning associated
with your new work location for the duration of your assignment.
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Current/Future Roles
As we have discussed, you would also become part of the Asia Pacific
Management Consulting Directorate (APMCD) Leadership Team and the senior APMCD
representative on the Global TIME Practice team. We will leave open the
flexibility in the future to move into different roles, as mutually agreed to by
you and the firm. For example, this might include a leadership role in the APMCD
Consumer Goods or Strategy practices, or in a geographic role such as Australia
or India.
We look forward to your acceptance of our offer. To signify your
acceptance, please sign and return to me one copy of this letter. If you have
any questions, please feel free to contact me.
Sincerely,
/s/ Michael J. McGaughey
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Michael J. McGaughey
Senior Vice President and
Managing Director Asia Pacific
ACCEPTANCE /s/ Raj Mitta
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Raj Mitta
DATE: 6/Nov/96
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START DATE: 1/Dec/96
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