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August 2, 1999
Mr. Adam Flint
VIA FACSIMILE: 011 44 11 70 561 235
Dear Adam,
This letter summarizes BriteSmile's offer of employment to you per our more
recent discussions.
Position: Vice President - BriteSmile Call Center
Reports to: Linda Oubre - President, Chief Administrative Officer
Location: Walnut Creek, California
Compensation: Annual Salary - $100,000 per year with 26 equal payments
during the year.
Bonus: $1.00 per paid procedure to be paid at the end of each
Fiscal Year -March 30th. This amount is to be divided
between call center management on a formula that we will
agree upon.
The bonus will be paid at a conversion level of 35% of
paid procedures of all calls. At a 55% conversion rate
of paid procedures, the bonus increases to $1.50 per
paid procedure. For the period of October 1, 1999
through March 30, 2000 the qualification is waived to a
25% conversion rate.
BriteSmile stock - 100,000 shares of BriteSmile stock
options exercisable at the fair market price on the date
of hire (8/15/99). 25,000 of these options vest
immediately with the remainder vesting in equal amounts
over a 5-year period.
Special Consideration: Spouse or fiance tuition - for a period of two years an
allowance up to $15,000 for college tuition.
Moving relocation expenses - BriteSmile will pay for all
moving expenses for you and spouse/fiance as well as a
special allowance of one month's salary for incidentals.
Adam, I believe the above accurately reflects our previous discussion and our
offer which you have already accepted. We are extremely pleased that you are
joining us and that you will lead our call center within this young company. We
look forward to your starting with us in August and to a long and exciting
employment situation. Please confirm your agreement below:
/s/ Adam Flint
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Adam Flint
Sincerely,
/s/ John Reed
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John Reed
cc: Linda Oubre
