Employment Agreement Request for David Parquet

Louise -

David Parquet is currently on an employment agreement which expires on 12/1/2001. Chris would like to be proactive in signing Dave up again for another 2 years.

Dave's current contract details are:

Base: $200,000 (due to SF cost of living)
Equity: $100,000 equity (50/50) on 1/1/00
Equity: $100,000 equity (50/50) on 1/1/01

Chris is proposing:

Base: $215,000 (or $200,000 with a COLA payment of $15,000 for each year of term)
Signing: $100,000
Equity: $350,000 (50/50)

Please let me know your thoughts.

Thanks!
Amy