EX-10
from 8-K
3 pages
Position. You Will Serve as the Chief Executive Officer and Director of the Company. You Will Report Directly to the Board of Directors of the Company. by Signing This Letter Agreement (“Agreement”), You Represent and Warrant to the Company That You Are Under No Contractual Commitments That Will Be Inconsistent With Your Obligations to the Company, Excepting Those Obligations Discussed Herein, Which by Virtue of This Agreement, Are Deemed Consistent With Your Obligations to the Company. (2) Compensation and Benefits. (A) You Will Be Compensated Under the Following Terms: (I) Cash Compensation of One Dollar ($1.00) for the Year Ended December 31, 2014. (II) Two Hundred Fifty Thousand (250,000) Warrants at Fifty Cents ($0.50) Expiring Ten (10) Years After the Signing of This Agreement, Subject to Adjustment for Any Future Stock Splits, and Which Shall Be Granted to You and Vest Immediately. (III) Bonus and/or Other Incentive Compensation to Be Awarded by the Company’s Board of Directors, at Its Discretion, Upon Review of Your Annual Performance. This Compensation Will Be Subject to Adjustment Pursuant to the Company’s Employee Compensation Policies Applicable to Senior Executives, as in Effect From Time to Time. (3) Proprietary Information Agreement. You Will Be Required, as a Condition to Your Appointment With the Company, to Sign the Company’s Standard Proprietary Information and/or Confidentiality Agreement Upon Commencement of Your Appointment, as Amended Per Mutual Agreement
12/34/56
