EX-10.1
from 8-K
1 page
Moving iMage Technologies, Inc. October 30, 2024 Discussion and Mutual Understanding Between Phil Rafnson and Francois Godfrey of Principal Terms Re Francois Becoming President & COO, and a Board Member of Mit. 1. Base Salary $225,000 Per Year. 2. Grant of 200,000 Options, 25% Immediately Vested, 25% Vested at 12, 24 and 36 Months. 3. Francois to Prepare a Business Plan by 12/31/2024 to Be Presented to Phil and the Board for the 3rd and 4th Q of FY 2025 and FY 2026. to Include Incentive/Performance Goals for the Business and Individually for Sr. Mgmt, With Proposed Incentive Bonuses Based on Same. 4. Sign-On Bonus. in Addition to the Immediately Vested 50,000 Options, $15,000 Cash Bonus Upon Delivery of Business Plan 12/31/2024. 5. Upon Reduced Salaries Being Returned to Prior Levels, Francois Salary to Increase the Same % as Sr. Vps, Plus 5%
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