Document:

exv10w11

 

Exhibit 10.11

 

August 1, 2005

     Re: Employment Terms

Dear Mr. Lerner:

     You have been employed by Ritz Interactive, Inc. (formerly known as phobo.com, Inc.) (the
“Company”) since April 1, 1999. The purpose of this letter is to confirm your current status,
position and terms of employment.

     Your position with the Company is President and Chief Executive Office, working out of our
Irvine, California office. In this position, you report to the Company’s Board of Directors and
perform such duties as assigned from time to time.

     Your base salary is $100,000 per year, paid in twenty-six (26) bi-weekly installments of
$3,846.15. In addition you are eligible for a bonus equal to 1% of the Company’s annual
merchandise sales, with a maximum annual bonus amount of $400,000; provided however that the
Company’s income before provision for income taxes (calculated in accordance with Generally
Accepted Accounting Principles) for such year must be at least $500,00 in order for you to be
eligible for this bonus. You are also eligible for an
incremental discretionary bonus, the amount of which, if any, will be determined by the Company’s
Board of Directors based upon a combination of Company and personal performance. You are eligible
to participate in all employee welfare and benefit plans offered from time to time to peer
employees of the Company however your medical and dental insurance premiums will be paid in-full by
the Company. Additionally you shall be reimbursed for all out-of-pocket medical expenses. The
Company will pay on your behalf the annual premium for a $2 million life insurance policy under
which you will be the beneficiary. You also shall receive a monthly car allowance of $18,000 per
year, paid in twenty-six (26) bi-weekly installments of $692.31. Lastly, you are eligible for
three weeks of paid vacation per year.

     Like all employees of the Company, you have been and will be expected to comply with the
rules, procedures, and policies of the Company as distributed to employees from time to time.
Employment with the Company is on an at-will basis. This means that either you or the Company may
terminate your employment at any time, for any reason, with or without cause. The at-will nature
of your employment cannot be modified except by written agreement signed by the Company’s Executive
Vice President and approved by the Company’s Board of Directors.

     During your employment with the Company, you may have or have had access to confidential and
proprietary information of the Company. You have signed the Company’s standard confidentiality
agreement, a copy of which is enclosed.

 

 

2010 Main Street, Suite 400, Irvine, CA 92614 — T 949.442.0203 — F 949.255.1560

 

RitzCamera.com • Photography.com • BoatersWorld.com • FishingOnly.com • BoatingOnly.com

 

 

 

     Please confirm the accuracy of the above matters by signing in the space provided below.

	 	 	 	 	 
	 	Very truly yours,

	 
	 	
/s/ Scott Neamand

Scott Neamand

        Executive Vice President and 
Chief Financial Officer
	 
	 	 	 
	 	 	 
	 

Enclosure

I (1) agree to the items stated in this letter and (2) acknowledge that no representations or
promises have been made to me regarding my employment with the Company other than as set forth in
this letter:

	 	 	 	 	 
	/s/ Fred H. Lerner
	 	Date 	 9/7/05	 
	 

	 	 	 	 
	Fred H. Lerner
	 	 	 	 

 

 

 

2010 Main Street, Suite 400, Irvine, CA 92614 — T 949.442.0203 — F 949.255.1560

 

RitzCamera.com • Photography.com • BoatersWorld.com • FishingOnly.com • BoatingOnly.com

2exv10w12

 

Exhibit 10.12

 

August 1, 2005

     Re: Employment Terms

Dear Mr. Neamand:

     You have been employed by Ritz Interactive, Inc. (formerly known as phobo.com, Inc.) (the
“Company”) since March 29, 2004. The purpose of this letter is to confirm your current status,
position and terms of employment.

     Your position with the Company is Executive Vice President, Chief Financial Officer and
Secretary, working out of our Irvine, California office. In this position, you report to the
Company’s President/CEO and perform such duties as assigned from time to time.

     Your base salary is $230,000 per year, paid in twenty-six (26) bi-weekly installments of
$8,846.15. In addition you are eligible for an annual discretionary bonus, the amount of which, if
any, will be determined by the Company’s Board of Directors based upon a combination of Company and
personal performance. At the completion of an IPO by the Company, you shall receive an incremental
bonus of $75,000. You are eligible to participate in all employee welfare and benefit plans
offered from time to time to peer employees of the Company, and you are eligible for three weeks of
paid vacation per year. You also shall receive a monthly car allowance of $6,500 per year, paid in
twenty-six (26) bi-weekly installments of $250.00.

     Like all employees of the Company, you have been and will be expected to comply with the
rules, procedures, and policies of the Company as distributed to employees from time to time.
Employment with the Company is on an at-will basis. This means that either you or the Company may
terminate your employment at any time, for any reason, with or without cause. The at-will nature
of your employment cannot be modified except by written agreement signed by the Company’s
President.

     During your employment with the Company, you may have or have had access to confidential and
proprietary information of the Company. You have signed the Company’s standard confidentiality
agreement, a copy of which is enclosed.

 

2010 Main Street, Suite 400, Irvine, CA 92614 — T 949.442.0203 — F 949.255.1560

 

RitzCamera.com • Photography.com • BoatersWorld.com • FishingOnly.com • BoatingOnly.com

 

 

 

 

     Please confirm the accuracy of the above matters by signing in the space provided below.

	 	 	 	 	 
	 	Very truly yours,

/s/ Fred H. Lerner

Fred H. Lerner

President and Chief Executive Officer

 	 
	 	 	 
	 	 	 
	 	 	 
	 

Enclosure

I (1) agree to the items stated in this letter and (2) acknowledge that no representations or
promises have been made to me regarding my employment with the Company other than as set forth in
this letter:

	 	 	 	 	 
	/s/ Scott Neamand

	 	Date 	 9/7/05	 
	 

	 	 	 	 
	Scott Neamand
	 	 	 	 

 

 

2010 Main Street, Suite 400, Irvine, CA 92614 — T 949.442.0203 — F 949.255.1560

 

RitzCamera.com • Photography.com • BoatersWorld.com • FishingOnly.com • BoatingOnly.com

2exv10w13

 

Exhibit 10.13

 

August 1, 2005

     Re: Employment Terms

Dear Mr. Brysha:

     You have been employed by Ritz Interactive, Inc. (formerly known as phobo.com, Inc.) (the
“Company”) since July 12, 1999. The purpose of this letter is to confirm your current status,
position and terms of employment.

     Your position with the Company is Vice President and Chief Marketing Officer, working out of
our Irvine, California office. In this position, you report to the Company’s President and
Executive Vice President and perform such duties as assigned from time to time.

     Your base salary is $272,782 per year, paid in twenty-six (26) bi-weekly installments of
$10,491.62. In addition you are eligible for an annual discretionary bonus, the amount of which,
if any, will be determined by the Company’s Board of Directors based upon a combination of Company
and personal performance. You are eligible to participate in all employee welfare and benefit
plans offered from time to time to peer employees of the Company, and you are eligible for three
weeks of paid vacation per year. You also shall receive a monthly car allowance of $12,200 per
year, paid in twenty-six (26) bi-weekly installments of $469.23.

     Like all employees of the Company, you have been and will be expected to comply with the
rules, procedures, and policies of the Company as distributed to employees from time to time.
Employment with the Company is on an at-will basis. This means that either you or the Company may
terminate your employment at any time, for any reason, with or without cause. The at-will nature
of your employment cannot be modified except by written agreement signed by the Company’s
President.

     During your employment with the Company, you may have or have had access to confidential and
proprietary information of the Company. You have signed the Company’s standard confidentiality
agreement, a copy of which is enclosed.

 

 

2010 Main Street, Suite 400, Irvine, CA 92614 — T 949.442.0203 — F 949.255.1560

 

RitzCamera.com • Photography.com • BoatersWorld.com • FishingOnly.com • BoatingOnly.com

 

 

 

     Please confirm the accuracy of the above matters by signing in the space provided below.

	 	 	 	 	 
	 	Very truly yours,

/s/ Fred H. Lerner

Fred H. Lerner

President and Chief Executive Officer

 	 
	 	 	 
	 	 	 
	 	 	 
	 

Enclosure

I (1) agree to the items stated in this letter and (2) acknowledge that no representations or
promises have been made to me regarding my employment with the Company other than as set forth in
this letter:

	 	 	 	 	 
	/s/ Andre Brysha 

	 	Date 	 9/7/05	 
	 

	 	 	 	 
	Andre Brysha
	 	 	 	 

 

 

2010 Main Street, Suite 400, Irvine, CA 92614 — T 949.442.0203 — F 949.255.1560

 

RitzCamera.com • Photography.com • BoatersWorld.com • FishingOnly.com • BoatingOnly.com

2exv10w14

 

Exhibit 10.14

 

August 1, 2005

     Re: Employment Terms

Dear Mr. Tahmin:

     You have been employed by Ritz Interactive, Inc. (formerly known as phobo.com, Inc.) (the
“Company”) since April 1, 1999. The purpose of this letter is to confirm your current status,
position and terms of employment.

     Your position with the Company is Vice President, Chief Operating Officer and Assistant
Secretary, working out of our Irvine, California office. In this position, you report to the
Company’s President and Executive Vice President and perform such duties as assigned from time to
time.

     Your base salary is $210,832 per year, paid in twenty-six (26) bi-weekly installments of
$8,108.92. In addition you are eligible for an annual discretionary bonus, the amount of which, if
any, will be determined by the Company’s Board of Directors based upon a combination of Company and
personal performance. You are eligible to participate in all employee welfare and benefit plans
offered from time to time to peer employees of the Company, and you are eligible for three weeks of
paid vacation per year. You also shall receive a monthly car allowance of $8,400 per year, paid in
twenty-six (26) bi-weekly installments of $323.08.

     Like all employees of the Company, you have been and will be expected to comply with the
rules, procedures, and policies of the Company as distributed to employees from time to time.
Employment with the Company is on an at-will basis. This means that either you or the Company may
terminate your employment at any time, for any reason, with or without cause. The at-will nature
of your employment cannot be modified except by written agreement signed by the Company’s
President.

     During your employment with the Company, you may have or have had access to confidential and
proprietary information of the Company. You have signed the Company’s standard confidentiality
agreement, a copy of which is enclosed.

2010 Main Street, Suite 400, Irvine, CA 92614 — T 949.442.0203 — F 949.255.1560

 

RitzCamera.com • Photography.com • BoatersWorld.com • FishingOnly.com • BoatingOnly.com

 

 

 

     Please confirm the accuracy of the above matters by signing in the space provided below.

	 	 	 	 	 
	 	Very truly yours,

/s/ Fred H. Lerner

Fred H. Lerner

President and Chief Executive Officer

 	 
	 	 	 
	 	 	 
	 	 	 
	 

Enclosure

I (1) agree to the items stated in this letter and (2) acknowledge that no representations or
promises have been made to me regarding my employment with the Company other than as set forth in
this letter:

	 	 	 	 	 
	/s/ Peter Tahmin

	 	Date 	 9/7/05	 
	 

	 	 	 	 
	Peter Tahmin
	 	 	 	 

2010 Main Street, Suite 400, Irvine, CA 92614 — T 949.442.0203 — F 949.255.1560

 

RitzCamera.com • Photography.com • BoatersWorld.com • FishingOnly.com • BoatingOnly.com

2

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