Design Within to enter into a 5-year agreement with Mr Ray

03 Apr '08

1 min read

Design Within Reach Inc announced that it has entered into a multi-year employment agreement with Ray Brunner, President and Chief Executive Officer.

"Since Ray was appointed President and CEO in May 2006, he has been instrumental in realigning Design Within Reach's operations and returning the Company to profitability. We are pleased to enter into a five-year agreement with Ray so DWR will continue to benefit from his strong leadership going forward," said John Hansen, the Company's Chairman, on behalf of the board of directors.

Mr. Brunner's new employment agreement extends through March 2013 and includes a balance of fixed and performance-based compensation. The agreement provides for an initial base salary of $375,000 and an annual bonus at the 100% target level in accordance with performance objectives determined by the board of directors.

The Company also agreed to grant Mr. Brunner options to purchase 100,000 shares each year during the initial term of the employment agreement. The terms of the employment agreement are summarized in a Form 8-K filed by the Company with the Securities and Exchange Commission. The full text of the employment agreement also can be viewed as an Exhibit to that Form 8-K.

Design Within Reach Inc

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