exv10w27



 






Exhibit 10.27




Letter Agreement









April 29, 2005




James Wilson

2115 Camino Rey

Fullerton, CA 92833



Dear Jim,



Congratulations and welcome to GameTech International, Inc. This correspondence serves as
confirmation of our offer of employment to you as a Chief Financial Officer. This position is an
important one to our organization and we look forward to the contributions you will bring to
GameTech and its Executive Team. We anticipate your start date to be May 17, 2005.



As CFO your responsibilities will include Finance, Human Resources and Operations. In addition you
will have responsibilities in conjunction with the CEO for Wall Street connections and M&A. We are
prepared to offer you a salary of $185k per year, with the opportunity for a review after 90 days
of employment. With this position, you will be able to participate in the Executive Team Bonus
Plan. At the outset, we will offer a stock option grant of 100,000 shares, vesting annually in
increments of 25,000 shares over a four year period. This stock option grant will be subject to
board approval.



In addition to the above compensation package, we are prepared to offer you relocation assistance
up to $15,000. As part of this $15,000 relocation assistance, GameTech will accept expenses during
your first three months of employment related to your apartment, airfare and rental car, including
hotel accommodations for up to three weeks. After completing six months of employment your
principal residence should be located in the Reno, NV area. GameTech also understands that you
have a scheduled vacation from 7/18/05 – 7/29/05, and will approve this time out of the office for
you.



Should your employment terminate with GameTech for “Cause”, or should you decide to terminate your
employment, prior to completing one year of service, you will be responsible for reimbursing the
company for all relocation expenses paid on your behalf. In the event that your employment is
terminated without “Cause”, you will receive a six month salary continuation. In the event that
there is a change of control, all your stock options will vest immediately. “Cause” means any
conduct that may jeopardize any license in any jurisdiction that the company does or seeks to do
business; performance of work in a manner that is not professional, including dishonesty or
insubordination; conviction for any felony; or other conduct injurious to the company or its
reputation. “Change of


 









 






control” means (i) the company merges with another entity, or (ii) that any “person” or “group”
becomes the “beneficial owner” of more than fifty percent (50%) of the total voting power entitled
to vote in the election of the Board of Directors, excluding any person or group that is the
beneficial owner of more than five percent (5%) of the total voting power as of the date of this
letter. “Person”, “group” and “beneficial owner” are defined in Sections 13(d) and 14(d) and Rule
13(d) of the Securities Exchange Act of 1934.



GameTech also offers a rich benefits package including Medical, Dental, Vision, 401K, Disability
and Life insurance for you. You will be eligible for these benefits 30 days after your hire.
Many more benefits will be described in the Plan Package.



We do let all new employees know that we are an “at will” employer and either the employee or the
employer may terminate the employment relationship at any time with or without prior notice.



We are so pleased to have the opportunity to work with you and look forward to your participation
with us. We wish you the best for success in your new position. Please sign in the space provided
below as acceptance of this offer. A copy will be made for your own personal file.




	 	 	 	 	 	 	 
	Kind Regards,
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	/s/ Kay O’Brien

	 	05/02/2005
	 	/s/ James Wilson
	 	04/29/2005
	 	 	 	 	

	Kay O’Brien

	 	 	 	James Wilson
	 	Date
	Director of Human Resources	 	 	 	 







		
	cc: 	Scott Shackelton

John Furman

Employee File





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