EMPLOYEE’S EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of October 31, 2007, by and between CIBER, Inc., a Delaware corporation (together with its affiliates, the “Company”) and Peter Cheesbrough (“Employee”).
THE PARTIES AGREE AS FOLLOWS:
1. Duties. Employee agrees to be employed by and to serve the Company as its Executive Vice President/Chief Financial Officer, and the Company agrees to employ and retain Employee in such capacity, subject to the terms of Employee’s Agreement. Employee shall devote all of Employee’s business time, energy and skill to the affairs of the Company, subject to the direction of executive officers of the Company and as further identified on Annex A hereto. Employee shall have powers and duties commensurate with Employee’s position in the Company. Employee shall comply with the general management policies of the Company as announced from time to time and made available to Employee in writing. Employee’s principal place of business with respect to Employee’s services to the Company shall be as shown on Annex A. Employee shall be required at various times to travel as part of Employee’s duties.
2. Term of Employment.
2.1 Basic Term. The initial term of employment of Employee by the Company shall be from the date of Employee’s Agreement through the current calendar year, unless terminated earlier pursuant to Employee’s Agreement. Employee’s Agreement shall renew automatically on an annual basis thereafter, subject to the termination provisions hereof on the same terms contained herein unless the Company or Employee provides written notice of its or Employee’s intention not to renew.
3. Salary, Benefits and Bonus Compensation.
3.1 Base Salary. Commencing on the date of Employee’s Agreement, the Company agrees to pay to Employee a “Base Salary” at the annualized rate as described on Annex A, payable in twenty-six (26) equal biweekly installments in accordance with the Company’s regular payroll practice.
3.2 Bonuses. Employee will be eligible to receive a bonus as determined in accordance with Annex A attached hereto for each fiscal year of the Company completed during the term of Employee’s employment. The estimated award will be adjusted with a final reconciliation in the first month of the following fiscal year.
3.3 Additional Benefits. For purposes of determining the benefits or benefit levels to which Employee is entitled, Employee shall receive credit for Employee’s length of employment with the Company. During the term of Employee’s employment, Employee shall be entitled to the following fringe benefits:
3.3.1 Employee Benefits. Employee shall be eligible to participate in such of the Company’s benefit and compensation plans as may be generally available to Employees of the Company. All such benefit plans may be amended or discontinued in the sole discretion of the Company.
3.3.2 Business Expenses. The Company shall reimburse Employee for all reasonable and necessary expenses incurred in carrying out Employee’s duties under Employee’s Agreement, including travel and entertainment expenses, in accordance with the Company’s policies in effect from time to time. Employee shall present promptly to the Company an itemized account of such expenses in such form as may be required by the Company.