Exhibit 99.1
May 13, 2016
Mr. Mark Duff
Re: Conditional Offer of Employment
Dear Mark:
Perma-Fix Environmental Services, Inc. is pleased to offer you the position of Executive Vice President for our organization. We are all excited about the potential that you bring to Perma-Fix. This position is located in Knoxville, Tennessee, and will require an agreed number of days in Atlanta, and reports directly to Dr. Louis F. Centofanti, Chief Executive Officer.
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1) |
Base Salary of $267,000 (two hundred sixty seven thousand). Any future pay increases must be recommended by the Compensation Committee of the Board of Directors and approved by the Board of Directors. |
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Performance incentive compensation bonus program based upon budget and profitability of Perma-Fix Environmental Services, Inc. as defined by the Executive Performance Incentive Plan. |
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Initial Stock Options for 50,000 shares of Perma-Fix stock, will vest over a 3-year period (priced at day of issue by Perma-Fix Board of Directors). |
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Reimbursement for moving and relocation expenses (e.g. packing/shipping/travel/temporary living, etc.), up to the maximum of $40,000. All claims for reimbursement must be accompanied by itemized receipts. |
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Car allowance of $750 per month (distributed as taxable income). |
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Three weeks sick, personal & vacation (SPV) accrual, beginning on your date of employment. |
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7) |
All other benefits as defined in the 2016 Benefits Guide. |
Please be advised that our offer of employment is conditional upon you successfully passing the pre-employment background screening, education verification, credit check and pre-employment drug screen.
In accepting our offer of employment, you agree that your employment will be on an at-will basis, and that neither you nor Perma-Fix has entered into a contract as to the duration of your employment, or any other employment terms not specified in this letter.
We look forward to your arrival at Perma-Fix and are confident that you will play a pivotal role in providing leadership in clarifying focus for implementation of improved operational infrastructure, planning for and executing growth strategy for a broader nuclear services offering, and partnering with the management team and Board of Directors in maximizing the overall value of Perma-Fix.
Sincerely,
/s/Lou Centofanti
Dr. Louis F. Centofanti
Chief Executive Officer
| Accepted: |
/s/ Mark Duff |
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Date: |
5-15-16 |
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| Mark Duff |
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