Exhibit 10.8


 


March 1, 2003


 


Mr. Michael J. Field


 


Dear Mike,


 


This letter is to formalize our offer of employment to you at HPL
Technologies, Inc. This would convert you from a consultant to that of an
employee. We trust that you will bring a significant contribution to HPL and
that you and the company will benefit from this new association.


 


Our offer is as follows:


 


	
  Position:

  	
  Vice President and General Counsel (an
  executive officer position), reporting to the CEO/President

  
	
  Base salary:

  	
  $15,833.33 per month ($190,000.00 per year)

  
	
  Review:   Your base salary
  will be reviewed annually or sooner at the discretion of the President and
  CEO and approved by the Board of Directors. 

  
	
  Start Date:

  	
  March 1, 2003

  



 


In this position, you are entitled to the following benefits; please
see enclosed information for further clarification:


 


	
  1. Health Insurance

  	
  — covered by BlueShield or Kaiser

  
	
  2. Dental Insurance

  	
  — covered by Delta

  
	
  3. 401K Plan

  	
  — Next enrollment date is the first day of the month following your
  hiring date

  
	
  4. Paid Company Vacation — 15 working days

  
	
  5. 12 Paid Holidays

  



 


Subject
to board of director approval, you will also be entitled to employee stock
options at a future date. The date as we discussed may be determined by the
ultimate settlement of our class action lawsuits and other factors. The actual
number of options granted, if any, will be determined at that time but will be
commensurate with your employment position and you will be treated similar to
other executive officers and employees in comparable positions. The HPL
Employee Stock Option Plan or its successor will govern the terms of any stock
option grant.


 


You
will be entitled to participate in an HPL company wide bonus plan and any
executive bonus plan to be established at a future date.  You will be treated comparable with the
bonuses to be paid to other executive officers and vice presidents at similar
level jobs with similar duties in the US. 
The actual amount of bonus (s), if any, is not guaranteed and the
company reserves the right to terminate any company wide bonus or executive
bonus plan at any time.


 


The
following documentation must be presented before becoming employed.


 


a.               Copy of Social Security Card


b.              Proof of being a US Citizen or if
you are a resident, you must present a document to prove legal immigration
status


c.               Copy of Driver’s License


 


You
will also be required to submit the enclosed employee Confidential Information
and Inventions Agreement on your first day of employment.


 


We
hope that you and the Company will find mutual satisfaction with your
employment. All of us at HPL are very excited about your joining our team and
look forward to a beneficial and fruitful relationship. Nevertheless, employees
have the right to terminate their employment at any time, with or without cause
or notice, and the Company reserves for itself an equal right. Nothing in this
letter is intended to modify this at will employment relationship.


 


This
letter/agreement and the “Employment Confidential Information and Inventions
Agreement” contain the entire agreement with respect to your employment and
supersede any prior or contemporaneous representatives or agreements. The terms
of this offer may 


 

















 


only
be changed by written agreement, although the Company may from time to time, in
its sole discretion, adjust the salaries and benefits paid to you and its other
employees, as well as reporting relationships, job titles and responsibilities.
Kindly indicate your consent to this employment agreement by signing and
returning a copy of this letter and a completed “Employee Confidential
Information and Inventions Agreement” to me by the first day of your
employment.


 


 


Yours
very truly,


 


	
  /s/ Michael P. Scarpelli

  	
   

  
	
  Michael P. Scarpelli

  	
   

  
	
  Chief Financial Officer and

  
	
  Senior Vice President, Administration

  



 


I
agree and accept this offer:


 


 


Michael J. Field