NETSOLVE INC
OFFER LETTER FROM NETSOLVE TO JEFF GUILLOT
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<TYPE>EX-10.22
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<FILENAME>dex1022.htm
<DESCRIPTION>OFFER LETTER FROM NETSOLVE TO JEFF GUILLOT
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<TITLE>Offer letter from NetSolve to Jeff Guillot</TITLE>
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<P STYLE="margin-top:0px;margin-bottom:0px" ALIGN="right"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B>EXHIBIT 10.22 </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT
SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">October 7, 2002 </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">Mr. Jeff Guillot </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">3016 Edgewater Drive </FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">Austin, Texas 78733 </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
FACE="ARIAL" SIZE="2" COLOR="#000000"><B>Re: Employment With NetSolve, Incorporated </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2"
COLOR="#000000">Dear Jeff, </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">On behalf of the entire NetSolve, Incorporated
(the &#147;Company&#148; or &#147;NetSolve&#148;) team, I am pleased to present our offer to you to become NetSolve&#146;s new Vice President of Development, and an officer of NetSolve. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">We at NetSolve have all enjoyed getting to know you and we look forward to welcoming you and Julie to NetSolve. We believe that you are
well qualified to help lead NetSolve to continued growth and success. We also believe, as I know you do, that becoming Vice President of Development of NetSolve is an outstanding and timely opportunity for you to capitalize upon your talents and
experience, and for you to continue to attain your personal goals. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">We have
given careful thought to compensation arrangements that would be appropriate for your professional stature and to NetSolve precedents and policies. Accordingly, below is a description of the terms of our offer of employment to you. </FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">1.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B>Position and Duties: </B>Your title will be Vice President of Development. In this capacity, you will be reporting directly to the CEO and President of NetSolve, Inc. You
will have the ultimate responsibility for overseeing and managing the following Development functions- Software Development (OSS, Tools, Pro-Watch, Pro-Watch Exchange, Business Analysis); Quality Assurance; Data-Base Administration; Product
Development Planning and Coordination. You and your team will be responsible for evaluating the potential and practicality of both current and future products. You will be held accountable for delivering results against defined key success factors,
both strategic and tactical. You will also be expected to form effective cross-functional working relationships and communications with the following business critical organizations&#150; Marketing, Sales, ISS/Security, and Operations. As the Vice
President of Development you will also be a member of the NetSolve Executive Team, and as such participate in setting business and functional Strategy, Performance Metrics and Measures, Business Plans, and Critical Success Factors. Additionally, you
will be responsible for determining talent and staffing needs, functional operations and capital budgets requirements; conducting annual performance planning and reviews, developmental planning, and conducting regular performance progress reviews.
</FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">2.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B>Base Salary:</B> Your initial base salary will be <B>$17,083.33</B> per month ($205,000.00 on an annualized basis), less standard payroll taxes and withholding. Payment of
your base salary will be in accordance with the Company&#146;s normal payroll practice. </FONT></TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">3.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B>Signing Bonus:</B> You will receive a one-time signing bonus of <B>$61,500.00</B> to be paid within 30 days of the date of your commencement of employment with
NetSolve.<B></B> </FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">4.</FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B>Annual Incentive Target Award:</B> You will be eligible for an annual incentive target award for each fiscal year based on certain mutually agreed upon performance
standards and criteria which will be established as soon as reasonably practical following your commencement of employment with NetSolve. The award level amount will be structured so that at plan the award will be 20% of your base salary. This award
will be payable to you after the completion of the Company&#146;s fiscal year in accordance with NetSolve&#146;s annual<B></B> </FONT></TD></TR></TABLE>

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<P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">incentive program. You must be employed by the Company on the date the award is payable to be eligible to receive
such award. For fiscal year 2003, the award will be prorated based on your start date.<B></B> </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B>4.</B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B></B><B>Stock Options: </B>Upon commencement of your employment with the Company, you will be granted an option to purchase 50,000 shares of NetSolve common stock under and
subject to the provisions of the NetSolve Long-Term Incentive Compensation Plan (&#147;LTICP&#148;). The exercise price for such option will be the closing price of the Company&#146;s common stock on the first day of your employment. The precise
terms of this grant will be set forth in an Option Agreement in the standard form under the LTICP. </FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B>5.</B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B></B><B>Compensation Review:</B> Your base salary, annual incentive target award and stock option position will be reviewed annually by the Board, prior to the completion of
NetSolve&#146;s fiscal year. </FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B>6.</B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B></B><B>Other Benefits:</B> As a NetSolve employee, you will be eligible to participate in NetSolve&#146;s various benefit plans, such as medical, disability, life
insurance, and 401(k) plans, which are now in effect, or as they may be changed or amended in the future. </FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B>7.</B></FONT></TD>
<TD WIDTH="1%" VALIGN="top"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B></B><B>At-Will Employment: </B>Your employment with NetSolve will be &#147;at-will,&#148; meaning that either you or the Company can terminate your employment at any time
and for any reason, or no reason at all. </FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; text-indent:4%"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">In
accordance with U. S. law, this offer of employment, including all terms relating thereto, is conditioned upon: </FONT></P><P STYLE="margin-top:0px;margin-bottom:-6px"><FONT SIZE="1">&nbsp;</FONT></P>
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<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">&#149;</FONT></TD>
<TD WIDTH="006" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">Satisfactory proof of U.S. citizenship or other eligibility for employment, as required by the Immigration Reform and Control Act of 1986; </FONT></TD></TR></TABLE>
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<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">&#149;</FONT></TD>
<TD WIDTH="006" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">You agree to, and we receive, satisfactory results on a background check of your education, work, driving, and criminal history; </FONT></TD></TR></TABLE>
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<TD WIDTH="4%"><FONT SIZE="1">&nbsp;</FONT></TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">&#149;</FONT></TD>
<TD WIDTH="006" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">Your execution of a NetSolve Proprietary Information and Inventions Agreement. </FONT></TD></TR></TABLE><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">Jeff, we all look forward to your prompt acceptance of our offer, and to your joining NetSolve full-time as soon as possible.<B> </B>To
signify your acceptance, please sign and return this letter to me no later than 5:00 p.m. (Central Time) on October 9, 2002, after which time this offer will expire. By signing below, you certify that you are able to perform the duties and
responsibilities of your position. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">May I again express that we look
forward to welcoming you and Julie to NetSolve and working with you. </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT
FACE="ARIAL" SIZE="2" COLOR="#000000">Sincerely, </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT FACE="ARIAL" SIZE="2"
COLOR="#000000">/s/ David D. Hood </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">David
D. Hood </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px; margin-left:54%; text-indent:-2%"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">CEO &amp; President </FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT
SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000"><B>AGREED AND ACCEPTED: </B></FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px; margin-left:2%; text-indent:-2%"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">/s/ Jeff Guillot </FONT></P><HR WIDTH="35%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="left"><P
STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">Jeff Guillot </FONT></P>

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<HR WIDTH="35%" SIZE="1" NOSHADE COLOR="#000000" ALIGN="left"><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">Date </FONT></P><P
STYLE="margin-top:0px;margin-bottom:0px"><FONT SIZE="1">&nbsp;</FONT></P><P STYLE="margin-top:0px;margin-bottom:0px"><FONT FACE="ARIAL" SIZE="2" COLOR="#000000">Enclosure: Second signature copy of this letter </FONT></P>
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