Exhibit 10.15


 


[Date]


 


 


[Address


Address


Address]


 


Dear
[Name]:


 


This
letter confirms our offer of employment with Specialty Laboratories, Inc. (Specialty or “Company”). 
Employment is contingent upon the completion of your background check
and is under the following terms and conditions:


 


 


	
  Start Date:

  	
   

  	
  [Date]

  
	
   

  	
   

  	
   

  
	
  Reports To:

  	
   

  	
  [Supervisor]

  
	
   

  	
   

  	
   

  
	
  Location:

  	
   

  	
  1620
  N. 26th St., Santa Monica, California 90404

  
	
   

  	
   

  	
   

  
	
  Base Salary:

  	
   

  	
  [Salary]

  
	
   

  	
   

  	
   

  
	
  Management  Incentive
  Compensation:

  	
   

  	
  You
  will be eligible to participate in the Company’s Management Incentive
  Compensation Program for [year] and successive years of employment.  Specific goals will be provided to you in
  writing within 60 days of your start date. 
  Earned bonuses are paid within 90 days close of the fiscal year.  You are eligible for a bonus target at
  [percentage] of your base salary based on both Company and individual
  performance.

  
	
   

  	
   

  	
   

  
	
  Stock Options:

  	
   

  	
  You
  will receive a stock option grant of [option amount] shares.  The exercise price will be the market
  price at close of business on your hire date, and is contingent on
  appropriate Board approval.

  
	
   

  	
   

  	
   

  
	
  Medical/Dental/  Vision Plans:

  	
   

  	
  You and your
  dependents will be eligible to enroll in Company-sponsored medical, dental
  and vision plans on the first of the month after completing 90 days of
  employment.  The Company will
  reimburse you for up to three (3) months of COBRA payments you make to
  continue your existing health coverage for you and your dependents prior to
  enrolling in the Company-sponsored medical, dental and vision plans.

  
	
   

  	
   

  	
   

  
	
  Section 125 Plan:

  	
   

  	
  The
  Company provides a Section 125 Plan, which includes pre-tax flexible spending
  accounts for medical and/or dependent care reimbursements.

  



 

















 


	
  Vacation:

  	
   

  	
  You
  will be entitled to accrue vacation at the rate of [number of weeks] per
  year. This may be carried over from year to year.

  
	
   

  	
   

  	
   

  
	
  401(k):

  	
   

  	
  You
  will be eligible to enroll in the 401(k) Plan after six months of
  employment.  Enrollment dates are
  January 1, April 1, July 1, and September 1 each year.  The Company makes a matching contribution
  of 50% of the first 6% of your pay contributed to the Plan, within IRS
  limits.

  
	
   

  	
   

  	
   

  
	
  Executive Deferred Compensation:

  	
   

  	
  You
  are eligible to participate in Executive Deferred Compensation Plan
  Commencing on your first day of employment.

  
	
   

  	
   

  	
   

  
	
  Life Insurance:

  	
   

  	
  The
  Company provides life insurance equal to one times your annual base salary to
  a maximum of $300,000.

  
	
   

  	
   

  	
   

  
	
  Long-Term Disability:

  	
   

  	
  After
  six months of employment, you will be covered under the Company’s Long Term
  Disability Plan.

  
	
   

  	
   

  	
   

  
	
  Protection Clause:

  	
   

  	
  In
  the event that you are terminated without cause you will receive payments
  equivalent to [number of months] of your base salary, to be paid bi-weekly
  beginning the first regular pay day following termination.

  



 


Employment
at Specialty is recognized as an
“at will” relationship and may be terminated by either party at any time for
any reason.  In addition, employment is
contingent upon providing proof of your legal right to work in the United States,
and your completion of the Immigration and Naturalization Service Form I-9.


 


During
the course of your employment, you may have the access to trade secrets and
confidential business information, including customer lists, financial
information, business plans, leases, licenses, proprietary software and other
information.  As a condition of
employment, you will be required to execute a “Confidentiality Agreement” which
is expressly incorporated into this offer.


 


Also
enclosed is a “Mutual Agreement to Arbitrate Claims.”  Please review, sign one copy, and return it to me, along with a
signed acceptance of this offer letter within five days of receipt of this
letter.


 


The
business needs of Specialty
require all of its employees to be highly flexible in their ability to perform
multiple tasks, and to accept changes in scheduling and duties to reflect the
needs of the Company.  The Company also
retains the right to modify or terminate any of its benefit programs at any
time.


 


Employment
with Specialty is a full-time
job, requiring your full loyalty to the Company.  Employment or other professional relationship with any competing
entity, or for yourself in competition with Specialty
is not permitted.  You should request
permission of the Chief Executive Officer before accepting any outside
employment or board membership of any kind.


 


 

















 


I
am very pleased to extend this offer of employment to you, and I am confident
that your association with Specialty
will be successful and rewarding.  As a
valued member of our team, I am sure that you will find our environment
challenging as well as an opportunity for intellectual growth.


 


Please
indicate your acceptance of this offer by signing below and returning this
letter to me.


 


Sincerely,


 


 


[Signatory’s
Name]


Specialty
Laboratories, Inc.


 


 


I
accept your offer of employment in accordance with the terms and conditions
above:


 


 


	
   

  	
   

  	
   

  
	
  [Name
  of Offeree]

  	
  Date