Datatec Systems Enters into Employment Agreement with its new Chief Executive Officer.Business Editors FAIRFIELD Fairfield. 1 City (1990 pop. 12,200), Jefferson co., N central Ala., an industrial suburb of Birmingham; inc. 1919. Founded (1910) by the United States Steel Corp., its steel industry has greatly declined, negatively affecting the city's economy. , N.J.--(BUSINESS WIRE)--Feb. 9, 2004 Datatec Systems, Inc. (Nasdaq: DATCE), a leading provider of technology deployment software, services and post-implementation customer care solutions, today announced that it has entered into a three-year Employment Agreement and a Stock Option Agreement with its new Chief Executive Officer, Raul Pupo. Mr. Pupo will be paid an initial base salary of $400,000, which is subject to an annual CPI (1) (Characters Per Inch) The measurement of the density of characters per inch on tape or paper. A printer's CPI button switches character pitch. (2) (Counts Per I adjustment, and a cash incentive bonus of up to 50% of the base salary - 60% of which is payable if the Company exceeds projected earnings; 20% of which is payable if the cumulative total stockholder return on the common stock of the Company exceeds the cumulative total return on the Nasdaq Market Index; and the remaining 20% of which is payable at the discretion of the Board of Directors. Mr. Pupo's Option Agreement provides for the issuance of options to purchase 4,000,000 shares of the Company's common stock which options vest and become exercisable equally over his three year Employment Agreement in twelve quarterly installments beginning January January: see month. 1, 2004 at increasing exercise prices. The first 1,000,000 that vest contain an exercise price of $0.50 per share; the next 1,000,000 that vest contain an exercise price of $1.00 per share; the next 1,000,000 that vest contain an exercise price of $2.00 per share; and the remaining 1,000,000 contain an exercise price of $3.00 per share. About Datatec Systems, Inc. Fairfield, N.J.-based Datatec Systems specializes in the rapid, large-scale large-scale adj. 1. Large in scope or extent. 2. Drawn or made large to show detail. large-scale Adjective 1. wide-ranging or extensive 2. market absorption of networking technologies. Datatec's deployment services utilize a software-enabled implementation model to configure See configuration. (software) configure - A program by Richard Stallman to discover properties of the current platform and to set up make to compile and install gcc. Cygnus configure was a similar system developed by K. , integrate, roll out and support new technology solutions using a "best practices" structured process. Its customers include Fortune 1000 companies and world-class world-class adj. 1. Ranking among the foremost in the world; of an international standard of excellence; of the highest order: a world-class figure skater. 2. technology providers. Datatec stock is listed on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. (DATCE). For more information, visit http://www.datatec.com/ This Press Release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties that may cause the actual results or objectives to be materially different from those expressed or implied by such forward-looking statements as more fully discussed in Datatec's filings with the Securities and Exchange Commission. |
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