EX-10.1
from 8-K
2 pages
July 16, 2020 Job Title: President, Nauticstar Salary/Bonus: Your Base Annual Salary Will Be $340,000. You Will Be Eligible for the Management Bonus Plan. You Will Be Eligible for Up to 50% of Your Base Salary Based on the Company’s Financial Performance and on Achievement of Agreed Upon Kpo’s (To Be Determined). Ltip: You Will Be Eligible for the Company’s Long-Term Incentive Plan. This Plan Will Allow You to Earn Up to 50% of Your Base Salary in Stock-Based Compensation. the Compensation Committee Will Provide You With Specific Grant Information at the End of Each Fiscal Year. Benefits: You Will Be Eligible for Health Benefits Effective the First Day of the Month Following 60 Days From Your Date of Hire. This Includes Medical, Dental, Prescription, and Vision Coverage. You Will Also Be Eligible for Short and Long Term Disability and Life Insurance. Relocation: You Will Be Eligible for Up to $25,000 Moving and Associated Expenses
12/34/56
EX-10.1
from 8-K
1 page
• the Company Will Pay (A) a Base Salary of $50,000 Per Month, Less Applicable Taxes and Withholding, Payable in Accordance With the Company’s Normal Payroll Cycle (B) a Cash Bonus of $10,000 Per Month Served as Interim CEO, Subject to Adjustment by the Compensation Committee Based on Your Performance as Interim CEO, Payable at the End of Your Service as Interim CEO (Provided You Remain Employed by the Company as Interim CEO Through the Final Date Established by the Board) and (C) a One-Time Grant of 15,000 Shares of Restricted Stock (With Terms Substantially Similar to Annual Director Grants, Including a One-Year Vesting Period). • in Addition to Your Compensation as Interim CEO, You Will Also Continue to Receive Compensation for Your Board and Board Committee Service in the Amounts Consistent With Those Payable Pursuant to the Company’s Non-Employee Director Compensation Policy, Subject to Applicable Taxes and Withholding. • the Company Will Reimburse You for All Eligible Business Expenses (Including Living and Travel-Related Expenses) in Accordance With Its Customary Policies and Practices. • Due to the Temporary Status of Your Employment, You Will Not Be Entitled to Any Separation or Severance-Related Pay Following Your Termination of Employment as Interim CEO. Please Acknowledge Acceptance of the Foregoing by Executing the Letter Below and Returning It to My Attention. Please Retain a Copy for Your Records
12/34/56
