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Addressee
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Dear Doug:
Thank you for visiting with us last week. We are confident you can make an important contribution to Herrington International and would like for you to join us as senior vice president with all financial responsibilities.
If you do, your base salary will start at $65,000 and will be reviewed annually. In addition, you will be on the executive incentive-bonus list. Those on this list receive an incentive bonus based on both corporate and individual performance. Last year the bonuses at your proposed level averaged about 28 percent.
You will also receive a company car and an Avvar Club membership.
We will also immediately grant you an option in the amount of 5,000 shares. I believe you have read this year’s proxy statement outlining our new stock grant program for key executives. You will be eligible to participate in this program when the next grants are made in January.
I’ve enclosed information about the company’s benefit programs and our relocation policy.
I’ll appreciate your making a decision as soon as possible, and, of course, we will defer to your timetable if our suggested beginning date will not allow sufficient time for your move.
We look forward to your long and successful career with us.
Cordially,
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