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Exhibit 10.9
[LOGO] [LETTERHEAD]
April 10th, 1997
Max (Ming-Kang) Liu, Ph.D
Dear Max,
We have enjoyed talking with you and feel that your abilities and interests are
a good match for the needs of Integrated Technology Express, Inc. (ITE). We are
pleased to offer you the position of Senior System Architect commencing April
14th, 1997.
Your salary for this position will be $120,000 per year. Subject to approval
from ITE's Board of Directors, you will be granted 100,000 shares of incentive
stock option to purchase common stocks of ITE at a price to be decided by ITE's
board of directors. For your reference the most recent stock option grants in
March 1997 was priced at US$1.275 per share. The option is to be fully vested
over four years with a vesting schedule of 20%, 25%, 30% and 25% each year
commencing from the date of grant. Health and dental/vision insurance plan are
also available after 30 days waiting period.
This letter confirms your representation to us that (i) you are not a party to
any employment agreement or other contract or arrangement which prohibits your
full time employment with ITE (ii) you will not disclose any trade secret or
confidential information of any third party to ITE, and (iii) you do not know
of any conflict which would restrict your employment with ITE.
By accepting a position with ITE, you acknowledge that your employment is on an
at-will basis and for an unspecified duration. Neither this offer letter nor
any policy or procedure of ITE nor any other verbal representations shall
confer any right to continuing employment. Either ITE or you may terminate your
employment relationship at any time, with or without cause. You further
understand that neither job performance, promotions, accommodations, bonuses
and the like shall imply an obligation on the part of ITE to continue
employment.
The terms of this offer are considered confidential information to ITE and we
trust that you will treat it confidentially as between you and the Board of
Directors.
If you have any questions concerning this offer, please contact Helen Hsu
immediately at (408) 980-8168. If the terms of this offer are acceptable to
you, please contact me. If you accept our offer, please sign this offer letter
where indicated and return it to me at your earliest convenience.
We look forward to having you join the ITE team.
Very truly yours,
Integrated Technology Express, Inc.
/s/ Young Liu
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Young Liu
Sr. Vice President Accepted and agreed
By: /s/ Max (Ming-Kang) Liu, Ph.D.
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