EX-10.11
from 10-K/A
2 pages
● Annual Base Rate of $275,000.00 as an Flsa Exempt (E.G. Salaried) Employee. ● a 90-Day Review of Performance Followed by Annual Reviews Thereafter. ● Employee Will Be Entered Into the New Long-Term Incentive (Lti) Stock Program Upon Approval of the Program by the Board of Directors. This Will Consist of 50% Restricted Stock and 50% Stock Options. Employee Will Receive the Following Stock Incentive - For Each Quarter Employee Works, Employee Will Earn 15,000 Shares of Restricted Common Stock in the Company (The “Shares”). to Be Entitled to the Shares, the Employee Must Work the Entire Quarter Excluding the First Quarter Worked. the First 15,000 Shares Will Be Issued to Employee on April 1st, 2024, and Continue Until Such Time the New Lti Program Is Approved and in Place. ● Eligible for an Annual Bonus of Up to 50% of Employee Base Salary ($137,500) Dependent on Achieving Company and Personal Goals Set Forth Upon Employment With the Company. ● Eligible for 1-Year Severance After Completing 90-Day Performance Review Successfully. Details Are to Be Outlined in the Severance Agreement Document. ● Medical, Supplemental Medical, Accident, Critical Illness Composite, Dental, Vision, Life Insurance, Voluntary Life, Std and Ltd Per the Company Plan (Eligible First of the Month Following Thirty Days From Date of Hire). ● Eligible for the Company 401(k) Plan on the First of the Month Following Active Employment (3% Employer Match After 60 Days; Vesting of Matching Funds After 1 Year). ● 160 Hours of Pto. Accrued but Unused Time Off Shall Roll Over to the Next Fiscal Year and Shall Not Be “Use It or Lose It” Time Off ● Paid Holidays Provided Per Company Policy
12/34/56
