Storage Technology Corporation (StorageTek or STK), aka STC until about 1983, is a data storage technology company. Current StorageTek products focus on tape backup equipment and software to manage storage systems. New products include data retention systems, which they call information lifecycle management, or ILM. Competitors include EMC and Veritas.[1] Now a subsidiary of Sun Microsystems, Inc. and referred to as Sun StorageTek, StorageTek was headquartered in Louisville, Colorado, United States with manufacturing facilities in Ponce, Puerto Rico.
Storage Technology Corporation ("StorageTek") is pleased to offer you employment
as Vice President of US/Canada Sales and Services, beginning on May 10, 2001
reporting directly to me. The general terms of your compensation and benefit
package being offered with this position are outlined below. Further details on
the Company's benefit plans are available for your review.
Your annual base salary, payable bi-weekly, will be $275,000.00, and you will be
considered for a merit increase effective January 1, 2002, less required
federal, state, local and FICA taxes. You will be eligible to participate in the
StorageTek MBO Plan. For 2001, your MBO target incentive will be 60% of your
base salary at the target level of performance. This MBO incentive plan is
currently measured on corporate performance and achievement of the MBO goals
shared by all of senior management. The details of this plan, including specific
objectives and payment schedules of earned bonuses, will be contained in a
separate MBO document.
This offer is also dependent on the verification of your eligibility to work in
the United States. StorageTek will sponsor and pay for the processing of your
non-immigrant employment visa and your family's non-immigrant dependent visas.
However, StorageTek can make no promises or guarantees about your ability to
secure employment authorization and dependent visas for your family. Please work
with Cathy Badell (303/661-2324) of StorageTek Global Mobility to start this
process. Also, if you decide that you want to pursue permanent residence in the
United States, StorageTek will pay the costs of sponsoring you in an
employment-based permanent residence application. StorageTek can make no
promises or guarantees about your ability to obtain permanent residence through
employment-based sponsorship.
By accepting this offer you understand that you will be required to relocate to
the Louisville, Colorado area. To assist with the transition to your new
location, StorageTek will provide for the relocation expenses as detailed in the
attached Relocation Assistance Summary. This offer of relocation will expire on
May 10, 2004.
StorageTek was founded in 1969 by four former IBM engineers: Jesse Awieda, Juan Rodriguez, Thomas S. Kavanagh, Zoltan Herger. Storage Technology Corporation, which officially became known as StorageTek in 1983, originally challenged IBM's dominance in tape storage, expanded to compete in the printer business for more than a dozen years. In the 1970s, StorageTek launched its Disk Products division.
Plagued by a series of missteps that drained the company's cash, including a failed attempt to develop an IBM compatible mainframe, and an optical disk product line, the company filed for Chapter 11 in 1984.
New management invested in an automated tape library system that 'picked' tapes with a robot arm and stored them in a silo-like contraption in 1987. StorageTek emerged as a dominant player in the automated tape library market.
StorageTek has acquired a number of companies, including Documation (1980), Aspen Peripherals Corporation (1989), Network Systems Corporation (1995), and Storability (2005). These and other activities allowed StorageTek to expand operations in Ponce, Puerto Rico and Toulouse, France.
On June 2, 2005, Sun Microsystems, Inc. announced it would purchase Storage Technology Corporation ("StorageTek") for US$4.1 billion in cash, or $37.00 per share. On August 31, 2005, the acquisition was completed.
On January 27, 2010, Sun Microsystems, Inc. was acquired by Oracle Corporation for US$7.4 billion, based on an agreement signed on April 20, 2009.
Because we want you to thrive at Oracle, we offer the best care for just about every health need imaginable. Oracle offers a comprehensive benefits plan, called ORACLEflex, that provides basic benefits and then enables eligible employees to choose coverage levels and additional benefits that best meet their needs and those of their eligible dependents. And what a deal it is!
BENEFITS: Employee's insurance benefits (medical, dental, long-term disability, accidental death and dismemberment and life insurance) will cease on the Termination Date, subject to Employee's rights to continue her health insurance under COBRA. Employee will not be entitled to accrual of any employee benefits, including, but not limited to, vacation and personal time off benefits, after the Termination Date. In addition to the consideration recited above, the Parties further acknowledge and agree that Employee will be paid the lump sum payment of $8,753.24, which represents twelve (12) months of COBRA health insurance premium payments for family medical and dental coverage.
PAYMENT OF SALARY: Employee acknowledges and represents that the Company has paid all salary, wages, bonuses, earned unused vacation, and any and all other benefits and compensation due to Employee up to the Termination Date. The parties further acknowledge and agree that Employee is entitled to receive a performance bonus in the amount of 50% of Employee's current base salary ($137,500.00) for the achievement of performance objectives through December 31, 2000, said bonus to be paid on the Termination Date or on the next paycheck. Employee acknowledges and agrees that with the exception of the bonus payment referenced herein, she is not eligible or entitled to receive any other type of bonus payment by the Company for the calendar years 2000 or 2001. Employee specifically acknowledges that she is not entitled to receive any type of bonus through the Management By Objective Bonus Program ("MBO Program") or any type of bonus through the Retention Bonus Program paid by the Company for the calendar years 2000 or 2001.
Storage Technology Corporation ("StorageTek") is pleased to offer you employment
as Vice President of US/Canada Sales and Services, beginning on May 10, 2001
reporting directly to me. The general terms of your compensation and benefit
package being offered with this position are outlined below. Further details on
the Company's benefit plans are available for your review.
Your annual base salary, payable bi-weekly, will be $275,000.00, and you will be
considered for a merit increase effective January 1, 2002, less required
federal, state, local and FICA taxes. You will be eligible to participate in the
StorageTek MBO Plan. For 2001, your MBO target incentive will be 60% of your
base salary at the target level of performance. This MBO incentive plan is
currently measured on corporate performance and achievement of the MBO goals
shared by all of senior management. The details of this plan, including specific
objectives and payment schedules of earned bonuses, will be contained in a
separate MBO document.
This offer is also dependent on the verification of your eligibility to work in
the United States. StorageTek will sponsor and pay for the processing of your
non-immigrant employment visa and your family's non-immigrant dependent visas.
However, StorageTek can make no promises or guarantees about your ability to
secure employment authorization and dependent visas for your family. Please work
with Cathy Badell (303/661-2324) of StorageTek Global Mobility to start this
process. Also, if you decide that you want to pursue permanent residence in the
United States, StorageTek will pay the costs of sponsoring you in an
employment-based permanent residence application. StorageTek can make no
promises or guarantees about your ability to obtain permanent residence through
employment-based sponsorship.
By accepting this offer you understand that you will be required to relocate to
the Louisville, Colorado area. To assist with the transition to your new
location, StorageTek will provide for the relocation expenses as detailed in the
attached Relocation Assistance Summary. This offer of relocation will expire on
May 10, 2004.
StorageTek was founded in 1969 by four former IBM engineers: Jesse Awieda, Juan Rodriguez, Thomas S. Kavanagh, Zoltan Herger. Storage Technology Corporation, which officially became known as StorageTek in 1983, originally challenged IBM's dominance in tape storage, expanded to compete in the printer business for more than a dozen years. In the 1970s, StorageTek launched its Disk Products division.
Plagued by a series of missteps that drained the company's cash, including a failed attempt to develop an IBM compatible mainframe, and an optical disk product line, the company filed for Chapter 11 in 1984.
New management invested in an automated tape library system that 'picked' tapes with a robot arm and stored them in a silo-like contraption in 1987. StorageTek emerged as a dominant player in the automated tape library market.
StorageTek has acquired a number of companies, including Documation (1980), Aspen Peripherals Corporation (1989), Network Systems Corporation (1995), and Storability (2005). These and other activities allowed StorageTek to expand operations in Ponce, Puerto Rico and Toulouse, France.
On June 2, 2005, Sun Microsystems, Inc. announced it would purchase Storage Technology Corporation ("StorageTek") for US$4.1 billion in cash, or $37.00 per share. On August 31, 2005, the acquisition was completed.
On January 27, 2010, Sun Microsystems, Inc. was acquired by Oracle Corporation for US$7.4 billion, based on an agreement signed on April 20, 2009.
Because we want you to thrive at Oracle, we offer the best care for just about every health need imaginable. Oracle offers a comprehensive benefits plan, called ORACLEflex, that provides basic benefits and then enables eligible employees to choose coverage levels and additional benefits that best meet their needs and those of their eligible dependents. And what a deal it is!
BENEFITS: Employee's insurance benefits (medical, dental, long-term disability, accidental death and dismemberment and life insurance) will cease on the Termination Date, subject to Employee's rights to continue her health insurance under COBRA. Employee will not be entitled to accrual of any employee benefits, including, but not limited to, vacation and personal time off benefits, after the Termination Date. In addition to the consideration recited above, the Parties further acknowledge and agree that Employee will be paid the lump sum payment of $8,753.24, which represents twelve (12) months of COBRA health insurance premium payments for family medical and dental coverage.
PAYMENT OF SALARY: Employee acknowledges and represents that the Company has paid all salary, wages, bonuses, earned unused vacation, and any and all other benefits and compensation due to Employee up to the Termination Date. The parties further acknowledge and agree that Employee is entitled to receive a performance bonus in the amount of 50% of Employee's current base salary ($137,500.00) for the achievement of performance objectives through December 31, 2000, said bonus to be paid on the Termination Date or on the next paycheck. Employee acknowledges and agrees that with the exception of the bonus payment referenced herein, she is not eligible or entitled to receive any other type of bonus payment by the Company for the calendar years 2000 or 2001. Employee specifically acknowledges that she is not entitled to receive any type of bonus through the Management By Objective Bonus Program ("MBO Program") or any type of bonus through the Retention Bonus Program paid by the Company for the calendar years 2000 or 2001.
Last edited: