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EXHIBIT 10.6
January 21, 2000
Mr. Christopher Trunkey VIA FAX
28710 Darrow Avenue (661) 263-6996
Santa Clarita, CA 91350
Dear Chris:
This will confirm your employment at J2 Communications/National Lampoon as Vice
President and Chief Financial Officer (or Chief Administrative Officer; the
choice is yours).
The term of your employment will begin January 31, 2000 and, unless you are
terminated for cause or the term is extended by mutual agreement, will end
January 30, 2001. During that time you will work at J2 four days each week.
Your compensation will consist of:
- $90,000.00 in salary, paid in equal installments every two
weeks;
- Health insurance for you only per the regular J2 plan, for which
you will become eligible April 29, 2000. You may, at your own
cost, add immediate family members to your coverage;
- Parking;
- Two weeks of vacation, which will accrue monthly during the term
of your employment;
- Options on 21,000 shares of J2 Common Stock (NASDAQ: JTWO),
which will vest in this way: 7,000 on January 31, 2001, 7,000 on
January 31, 2002, and 7,000 on January 31, 2003. Provisions
pertaining to this grant are contained in the Stock Option Plan
of 1994, which governs it.
Should there be a change in control of J2 (that is, should any
person or group acquire more than fifty percent of J2 Common
Stock), all remaining unexercised shares will vest immediately.
Should J2 acquire significant additional capital or engage in a
merger, acquisition or some other combination with an outside
entity that results in a material increase in its cash position
and/or cash flow, your salary will be increased to $120,000.00
per year and you will work at J2 five days each week.
Please indicate your agreement with these terms by signing below.
All of us at J2 Communications are looking forward to working with you.
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Cordially,
/s/James P. Jimirro
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JAMES P. JIMIRRO
President and CEO
JPJ/DM/cva
ACCEPTED AND AGREED TO:
/s/Christopher M. Trunkey
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Christopher M. Trunkey
