EX-10.1
from 425
14 pages
1. Employment. the Company Will Continue to Employ You, and You Agree to Continue to Be Employed by the Company, in Your Current Position as Chief Executive Officer. in Addition, You Agree to Serve as an Executive Vice President of Parent. at a Mutually Agreeable Time, You and Parent Will Discuss a Transition to an Arrangement Whereby You Become a Consultant to Parent and a Member of the Board of Directors of Parent (The “Board”) Rather Than an Employee as Described Herein. 2. Compensation. (A) Base Salary. the Company Will Continue to Pay You as Your Compensation for Your Services and Agreements Hereunder a Base Salary Payable at the Bi-Weekly Rate of $20,192.31, Which Annualized Is $525,000 Per Year (The “Base Salary”), Less Any Amounts Required to Be Withheld Under Applicable Law. (B) Incentive Bonus
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