Exhibit 10.67


 


May 30, 2000


 


 


HAND DELIVERED


 


 


Mr. Todd W. Schorr


xxxxxxxxxxxxxxxxx


xxxxxxxxxxxxxxxxx


 


Dear Todd:


 


I am pleased to confirm the terms of the offer of employment to you at
Allied Worldwide, Inc.’s (“Allied”) offices in Naperville, Illinois.  The offer is as follows:


 


Position:  Senior Vice President,
Human Resources for Allied Worldwide, Inc. reporting to Jeff Gannon,
President and CEO.  You will also
participate as a member of the Corporate Executive Council.


 


Salary:            $175,000 per year, payable in bi-weekly
installments.  For the first year, there
will be a signing bonus of $25,000 paid within thirty (30) days after your
start of employment.  All payments are
subject to taxes and other withholdings which may be required.


 


Start Date:                                        June 15,
2000.


 


Annual Bonus:               You will be
eligible to participate in Allied’s Management Incentive Program with a
projected annualized target bonus of 80% of base salary, which can be exceeded
for extraordinary performance.  Your
first year of participation will be prorated from June 1, 2000, provided
your start date is no later than June 15, 2000.


 


Long-Term Performance Plan:                                   You
will also be eligible to participate in a new long-term performance plan, on a
prorated basis, under which you can receive up to $150% of your average age
annual compensation (defined as salary and incentive compensation actually
received in respect of 2000, 2001 and 2002), if the pre-established performance
criteria are achieved.


 





















 


Stock:               You will be provided the opportunity to
purchase up to 2,000 shares of common stock of Allied Worldwide, Inc. at
the fair market value of such stock, established by the Board of Directors at
that time.  The last valuation
established by the Board was $142 per share. 
Your purchase shall be made pursuant to a management stock subscription
agreement substantially similar to those in effect for other officers of Allied
which shall state the terms and conditions upon which your shares are subject
to repurchase in the event of your termination of employment.


 


Stock Options:                 Subject to your
purchase of at least 50% of all of the stock offered to you, you will receive
2,000 stock options which will vest ratably over five years.  In addition, you will receive 2,000
performance options which will vest upon the achievement of performance objects
tied to Allied’s EBITDA from year to year.


 


Company Car:                     During your
employment, you will be provided with a car allowance, to the extent any such
program is then in effect for Allied officers at your level.


 


Benefits:                    You will be
entitled to participate in all health, welfare and other benefits available to
executives of the company.  Those
benefits will be described in the benefit documents being forwarded to you
under separate cover.


 


Severance:                                      In
the event you are involuntarily terminated by the company without cause, you
will be entitled to receive continued payments of your base salary and health
benefits until the earlier of one year after termination or until you obtain
new employment.  These continued payments
would be subject to signing of a general release and standard provisions
regarding non-solicitation of employees, agents and customers.


 


Additional Terms:                                                This
offer is contingent upon:


 


(a)                                  Your
not being subject to any contract that would be violated by your employment
with Allied.


 


(b)                                 Your
successful completion of a drug/alcohol screening prior to your start date.


 


I have enclosed a copy of this offer letter for your records.  Please execute the original as indicated
below and return it to me in the enclosed envelope.


 


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On behalf of Jeff and the leadership, we would like to welcome you to
the Allied Worldwide team.  We are very
excited about your joining our company and look forward to working with you.  If you have any questions, please do not
hesitate to call me at

630/717-4743.


 


	
  Sincerely,

  
	
   

  
	
  /s/ RALPH A.FORD

  	
   

  
	
  Ralph A. Ford

  



 


ck


enclosures


 


c:                                       Jeffrey
P. Gannon


President


Allied Worldwide, Inc.


215 W. Diehl Road


Naperville, IL  60563


 


Keith Meyer/Egon Zehnder International–VIA
FAX-312/782-2846


 


	
  ACCEPTED AND AGREED TO THIS

  30th day of May, 2000.

  
	
   

  
	
  /s/ TODD W. SCHORR

  	
   

  
	
  TODD W. SCHORR

  



 


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