Offer Letter



 Exhibit 10.11 

 

					
	



	  	American Life Insurance Company	  	William B. Feehan
	  	600 N. King Street	  	SVP, Human Resources
	  	Wilmington, DE 19801	  	
	  	302-594-2030	  	
	  	212-770-8320	  	
	  	William.feehan@aig.com	  	

 25 March 2009 
 STRICTLY PRIVATE AND CONFIDENTIAL 
 Mr. Michel Khalaf 

Dear Michel: 
 This will confirm our offer of
your employment with ALICO Middle East, Africa and South Asia (MEASA), subject to the following terms and conditions: 
 POSITION:

 You will be appointed as Regional President- ALICO MEASA effective your transfer date. 

You will report to the ALICO Chairman and CEO. 

SALARY: 
 Your base annual salary will be
US$400,000 (Four Hundred Thousand Dollars only) on a 13-month basis, payable in UAE Dirhams. Your salary shall be reviewed in the first quarter of 2009, and each following year thereafter. 
 BONUS: 
 Contingent upon your meeting the Company’s performance expectations and being
an active, full-time employee, you will be eligible for a pro-rated performance bonus based on the effective date of this assignment. For 2009 your target bonus will be USD 133,000 (payable in UAE Dirhams). 

TRANSPORTATION: 
 You will receive
a transportation allowance of UAE Dirhams 7,000/- per month. 
 HOUSING ALLOWANCE: 

You will be entitled to annual housing allowance of UAE Dirhams 475,000. The Company will pay your housing utilities expenses (electricity, water, and
municipality charges). 
 Your private home telephone is your responsibility. However, the company will reimburse you for approved business
calls made from your home. 








 



 
  

 ANNUAL LEAVE: 
 You will be entitled to 30 Calendar days paid annual leave for each one full year of service. Weekends and Public Holidays will be considered part of your leave entitlement if they fall during your leave
period. Entitlement is due on completion of one year of service. The timing of your leave will be coordinated with and approved by the Regional Chief Agency Officer. 
 RETURN AIRFARE: 
 Dubai/Home of record/ Dubai economy class airfare will be provided to you
and your dependents, on assignment with you, on completion of one full year of service and annually thereafter. 
 SCHOOLING: 

From Junior Kindergarten or equivalent through Grade 12, the company will cover your children’s (on assignment with you) school tuition
fees & directly related charges. Your contribution will be limited to 20% of the cost, with a maximum of US$ 875 ( US$ Eight Hundred Seventy Five) per child per year. The Company will cover the excess up to US$ 10,000 (US$ Ten Thousand
only) per child per year. 
 CLUB MEMBERSHIP: 
 You will be entitled to Club Membership for you and your dependents. 
 INSURANCE:

 You will be entitled to enroll under ALICO MEASA Employees Group Life and Medical Insurance plans per company guideline. You will also
be eligible for other local benefits normally granted to staff, per standing regulations. 

  
 



    A Member Company of American International Group, Inc 









 



 
  

 GROUP PENSION PLAN: 
 You will be eligible to participate in ALICO MEASA Employees Group Pension Plan. 
 Employees
contribute 5% of their salaries to this plan, and the company matches this contribution by an equal 5%. 
 It should be understood that the
governing law is the labor law of DIFU-UAE. 
 It is also understood and agreed that this offer is contingent upon your obtaining valid work
permits or visa necessary to reside/work in UAE. The Company will assist you with this process. 
 Please signify your acceptance and
understanding of the above terms by signing and returning the attached copy of this letter. 
  

			
	/s/ William B. Feehan	  	25 March 2009

 I hereby confirm my acceptance of this offer and agree to the terms and conditions specified therein. 

Signature & Date 
 cc: R. Haber 

  
 



    A Member Company of American International Group, Inc