Document:

exv10w2

 

Exhibit 10.2

February 21, 2007

Peter Foyo

c/o Nextel de Mexico S.A. de C.V.

Boulevard Manuel Avila Camacho #36, Piso 9

Col. Lomas de Chapultepec

11000 México, D.F.

Dear Peter:

We are delighted you will be continuing your assignment with NII Holdings, Inc. (“NII” or the
“Company”) as the President of Nextel de Mexico, S.A. de C.V. (“Nextel Mexico”).

The following information provides detail and establishes the basis for mutual expectation
regarding the terms and conditions of employment, benefits, provision, and
expatriation/repatriation assistance applying to your employment with NII. The terms and
conditions outlined in this Agreement will be in effect only for the period of this assignment and
do not apply to any other expatriate agreements that you and the

Company have consummated.

Outlined below are the specific terms and conditions regarding your employment relationship with
the Company during the period of expatriation:

	 	 	 	 	 
	1.

	 	Title/Grade:
	 	EX2/President Nextel Mexico
	 
	 	 	 	 
	2.

	 	Reporting To:
	 	NII President and COO
	 
	 	 	 	 
	3.

	 	Effective Date:
	 	March 1, 2007
	 
	 	 	 	 
	4.

	 	Location:
	 	Mexico City, Mexico
	 
	 	 	 	 
	5.

	 	Term of Assignment:
	 	Your employment with the Company will
be of indefinite duration, terminable
at will by either party, without
cause. This means that you may elect
to terminate your employment with the
Company at any time after such date,
and the Company retains the same
rights. This “employment at-will”
paragraph operated notwithstanding any
other provision of this letter, and no
officer or employee of the Company is
authorized to offer any employment

 

 

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	 	 	 	relationship other than the “at-will”
relationship provided for in this
paragraph. If either party terminates
this Agreement, except for COBRA
benefits and repatriation, all rights
and liabilities hereunder will cease.
You and the Company agree that the
terms of your employment will be
governed by the laws of the State of
Virginia, not by the laws of any other
state or foreign country.
	 
	 	 	 	 
	6.

	 	Base Salary:
	 	$350,000 per year, paid bi-monthly in
the United States and subject to U.S.
taxes. You will be eligible for a
base pay increase in 2007 subject to
approval of the Board of Directors.
	 
	 	 	 	 
	7.

	 	Foreign Assignment Differential:
	 	A foreign assignment differential will
be paid to compensate you for the
higher costs of goods and services in
the assignment location as compared to
the United States. The differential,
affected by inflation in the
assignment location and in the United
States, and by exchange rates, will be
reviewed periodically. Your foreign
assignment differential will be
$23,882.36 per year payable bi-monthly
by Nextel Mexico net of taxes.
	 
	 	 	 	 
	8.

	 	Hardship Allowance:
	 	A hardship allowance will be paid to
compensate you in the assignment
location. We have agreed to pay you
10% of your base salary, which will be
paid bi-monthly by Nextel Mexico net
of taxes.
	 
	 	 	 	 
	9.

	 	Performance Review:
	 	Your performance and your position
with the Company will be reviewed on
an annual basis by your supervisor who
shall report the results of such
review to the Chief Executive Officer,
at which time you will be eligible for
a merit increase in your base annual
compensation. Any such increase shall
be based on a positive review of your
performance and commensurate with your
duties and responsibilities. Your
next scheduled merit review will be
conducted by March 2007.
	 
	 	 	 	 
	10.

	 	Incentive Bonus:
	 	You will be eligible to receive an
annual bonus of 50% of your annual
base salary based upon the Company
bonus plan. The annual bonus is
normally paid during the
1st quarter of the
following year.
	 
	 	 	 	 
	11.

	 	Tax Equalization:
	 	It is the company’s policy that
personnel stationed abroad will not
suffer financially from an excessive
tax liability as consequence of having
to pay more income taxes that they

 

 

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	 	 	 	would not have paid in the United
States. In order to implement this
policy, an expatriate will be
reimbursed for US and foreign taxes
incurred on the total compensation in
excess of the US tax that would have
been incurred on the base salary had
the expatriate remained in the United
States. You agree to restructure the
relationship with the Company in a
manner, which will minimize your
overall tax liability, so long as you
are not adversely impacted.
	 
	 	 	 	 
	 

	 	 	 	In the event the Company overpays tax
with respect to Company-earned income,
a refund may be received payable to
you. You agree to reimburse the
Company that amount relating to
Company-earned income and benefits.
	 
	 	 	 	 
	12.

	 	Tax Counseling:
	 	To ensure that tax is paid as and when
required, the Company has retained
international tax consultants to
assist in the preparation and filing
of US federal and state (if
applicable) income tax returns. They
will also provide assistance for your
income tax return in your foreign
assignment location. Only the
consultants designated may be used.
The extent of this tax consultant
service to you is as follows:
	 
	 	 	 	 
	 

	 	 	 	• Consultation with the
tax consultant service while in your
foreign assignment location to assist
you in the preparation of annual
returns;
	 
	 	 	 	 
	 

	 	 	 	• Up to two
consultations upon final return, if
appropriate.
	 
	 	 	 	 
	 

	 	 	 	Penalties and interest owing or the
preparation of amended returns,
together with incremental consultant’s
fees, that result from failure to
comply with the established procedure,
may result in the Company charging you
with these amounts.
	 
	 	 	 	 
	 

	 	 	 	Similarly, the Company will take
measures as are required to ensure you
do not suffer, if upon final return
and through no fault of your own, you
find you have been charged with double
taxation on your company-earned income
and benefits while assigned to the
foreign assignment location.
	 
	 	 	 	 
	13.

	 	Housing Allowance:
	 	The Company will pay your actual cost
of rental housing in Mexico City,
including rent of $7,000 per
month for maintenance and
utilities.

 

 

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	14.

	 	Schooling Allowance:
	 	The company will pay up to $500 per
month cost for monthly tuition for
each of your children. The schooling
allowance will be paid by Nextel
Mexico.
	 
	 	 	 	 
	15.

	 	Company Car:
	 	In your expatriate assignment, Nextel
Mexico will provide you with use of a
company car and driver commensurate
with your position.
	 
	 	 	 	 
	16.

	 	Home leave travel:
	 	You and your partner are entitled to
six home visits per year to be used
during the duration of the assignment.
Additionally, your children are
entitled to three home visits per year
during the duration of the assignment.
In case of an emergency with your
immediate family, you will be entitled
to travel at the Company’s expense as
well. All home leave travel includes
airfare and local transport to and
from the airport only. In all cases,
the class of service will be based on
the current NII policy.
	 
	 	 	 	 
	17.

	 	Vacation:
	 	You are entitled to four weeks
vacation per calendar year prorated
for any partial years of employment in
accordance with NII’s vacation policy.
	 
	 	 	 	 
	18.

	 	Holidays:
	 	The observation of holidays will be
determined by local customs and
traditions in your foreign assignment
location.
	 
	 	 	 	 
	19.

	 	Insurance & Benefits:
	 	You will be eligible for the NII
standard insurance and benefit plan
(to include 401k and employee stock
purchase plan) commensurate with your
position and your compensation and
local Nextel Mexico plan
	 
	 	 	 	 
	 

	 	 	 	In addition, the Company will pay
emergency medical transportation and
lodging costs to offset costs that the
medical insurance does not cover.
	 
	 	 	 	 
	20.

	 	Security
	 	Nextel Mexico will coordinate and,
facilitate, and fund all ordinary
security provisions to adequately
provide you and your family with
protection.
	 
	 	 	 	 
	21.

	 	Expenses:
	 	Any expenses that you incur on behalf
of the Company, which are directly
related to your work will be
reimbursed based on properly completed
documentation and prior approvals.
	 
	 	 	 	 
	22.

	 	Repatriation:
	 	NII will provide repatriation
relocation assistance at the end of
your expatriation assignment or upon
termination of your

 

 

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	 	 	 	employment by NII
(in the event of termination, NII will
provide repatriation relocation
assistance only if the termination is
a decision of the Company). The
Company will pay the cost of
transporting you and your family from
your foreign assignment location to
your place of residence in the United
States in compliance with current
travel policy.
	 
	 	 	 	 
	 

	 	 	 	NII will pay for costs of packing,
transporting, insuring, and unpacking
those personal effects and household
goods you have designated for
relocation, provided such items can be
shipped in one (2) twenty foot (40’)
sea-going shipping container.
	 
	 	 	 	 
	23.

	 	Financial Responsibilities:
	 	Except as specifically provided in
this Agreement, you will be
responsible for all financial
obligations incurred by you during the
term of this assignment.
	 
	 	 	 	 
	24.

	 	Non-competition, etc.:
	 	You agree that during the term of your
employment and for a period of one
year after termination of your
employment, unless such termination
was by the Company without cause, you
will not (a) become involved as an
employee, consultant, independent
contractor, advisor, director,
partner, owner or otherwise in any
business in your foreign assignment
location which competes directly with
any business in which the Company is
then engaged or is planning to become
engaged, or (b) solicit the employment
or services of any of the Company’s
employees, consultants, independent
contractors, advisors, directors, or
other representatives.
	 
	 	 	 	 
	 

	 	 	 	You will agree that at all times
during your employment and after
termination of your employment you
will not, without written permission
of the Company’s then current Chief
Executive Officer, disclose to any
party or use or permit to be used in a
manner adverse to the Company any
confidential or other proprietary
information of the company, including,
without limitation, trade secrets.

This Agreement supersedes any and all prior written or oral agreements or understandings concerning
such subject matter with the exception of the “NII Holdings, Inc. Non-Competition and
Confidentiality Agreement” which you signed on March 29, 2006.

 

 

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If you have any questions or require additional information, please do not hesitate to contact me
at (703) 390-5154. Please sign below where indicated and return two signed copies to me to
evidence your agreement as to the above terms. A copy is for your records.

	 	 	 
	 

	 	Sincerely,
	 
	 	 
	 

	 	/s/ Dayna Parker
	 

	 	 
	 

	 	Dayna Parker
	 

	 	Vice President Human Resources
	 

	 	NII Holdings, Inc.

I have read and understand the terms and conditions contained in this Agreement and hereby accept
and agree to them as partial conditions of my employment with Nextel International, Inc.

	 	 	 
	 

	 	/s/ Peter Foyo
	 

	 	 
	 

	 	Peter Foyo
	 

	 	Date:  4-10-07exv10w1

 

J. MARK ARIAIL

REDACTED

REDACTED

April 18, 2007

Board of Directors

Apollo Resources International, Inc.

RE: Resignation

Fellow Members of the Board:

     It is only after much deliberation and with regret that I feel compelled to tender my
immediate resignation as CFO and a member of the Board of Directors (the “Board”) of Apollo
Resources International, Inc. (“Apollo”). Reaching this decision had been difficult and I am sad
to leave the good people at Apollo behind.

     Unfortunately, as time has passed the list of issues facing Apollo continues to multiply
rather than diminish creating professional and personal liabilities with which I am no longer
comfortable. I do not believe Apollo is moving in the direction of alleviating my concerns;
therefore, I am left with no choice but to resign. In the interest of the remaining members of the
Board of Directors, Officers of Apollo and Apollo’s shareholders I discuss some of my concerns
below.

     REDACTED PORTION

     I am perhaps most troubled by my ability to move Apollo in a direction toward better internal
controls, fiscal responsibility and basic corporate governance. REDACTED PORTION. During my
tenure at Apollo I have tried to impress upon management and the Board the need for sound corporate
governance and internal controls, I have come to the conclusion that my efforts are futile. The
lack of ability of Apollo’s directors and officers to improve and solidify Apollo’s internal
controls is particularly troubling REDACTED PORTION.

 

 

Board of Directors

April 18, 2007

Page 2

REDACTED PORTION

     It is my sincere hope that the comments contained in this letter encourage Apollo to embrace
the standards of corporate governance expected from a publicly traded company. Once again, I am
saddened by the circumstances but feel compelled to resign as CFO and member of the Board of Apollo
in light of the continued lack of attention to internal controls, fiscal responsibility, basic
corporate governance REDACTED PORTION.

     I believe that each of you understand why reached this decision. I hope each of you will
respect my decision. I remind you that pursuant to the Utah Revised Business Corporations Act, Par
9 § 16-10a-903 and Apollo’s Articles of Incorporation. REDACTED PORTION

 

 

Board of Directors

April 18, 2007

Page 3

I wish everyone at Apollo the best.

Very truly yours,

	 
	/s/ J. Mark Ariail

	 

	J. Mark Ariail

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