EXHIBIT 10.12
EMPLOYMENT AGREEMENT
This Employment Agreement (this “Agreement”) is entered into as of September 24, 2002, by and between The Nautilus
Group, Inc., a Washington corporation (the “Company” or “Employer”), and Stephen Eichen (“Employee”). In consideration of
the premises and the mutual covenants and agreements hereinafter set forth, the Company and Employee hereby agree as
follows:
1. Employment . Employee is being hired as Vice President of Information Technology. Employee shall (a) devote his/her
professional entire time, attention, and energies to his/her position, (b) use his/her best efforts to promote the interests of
Employer; (c) perform faithfully and efficiently his/her responsibilities and duties, and (d) refrain from any endeavor outside of
his/her employment which interferes with his/her ability to perform his/her obligations hereunder. Employee shall initially report
to the President of the Direct Division, and/or such other persons as may be designated by Employer, and perform his/her job
duties subject to his/her general supervision, orders, advice and direction. Employee shall perform the duties normally
associated with the position and/or such duties as delegated and assigned by the Company. Subject to the provisions of
Section 7(b) herein, the Company retains the sole discretion to change Employee’s position and/or duties as it deems
appropriate.
Employee additionally agrees to abide by any general employment guidelines or policies adopted by Employer such as
those detailed in an employer’s handbook, as such guidelines or policies may be implemented and/or amended from time to time.
2. Salary . As compensation for services to be rendered hereunder, the Company shall pay Employee an initial annual salary in
the gross amount of one hundred, ninety-five thousand dollars ($195,000). Said salary will be paid in accordance with the
Company’s existing payroll policies, and shall be subject to normal and/or authorized deductions and withholdings.