EX-10.3
from SB-2
3 pages
1. the Employee Shall Commence Employment With the Company on , 2004, as Chief Financial Officer of the Company Reporting to Prem Ramchandani and Avi Sivan. 2. the Employee Shall Perform All Duties Commonly Associated With the Position of Chief Financial Officer in a Competent; Honest and Professional Manner, and Shall Devote His Full Time and Attention to the Duties and Responsibilities of Said Position. 3. the Annual Salary Paid to the Employee Shall Be Two Hundred Thousand Dollars, Payable Weekly and Subject to Annual Review, but in No Event Will It Decrease. 4. in Addition to Salary, Employee Shall Receive an Annual Allowance of Four Thousand Eight Hundred Dollars for Automobile Usage, Payable Monthly. 5. the Following Additional Terms of Employment Shall Apply: A. Medical Insurance: The Employee Will Be Provided Medical Insurance Under the Plan Currently Adopted (Or as From Time to Time May Be Adopted) by the Company for the Benefits of Its Employees and Their Families. B. Vacation and Holidays: The Employee Shall Receive Three Weeks(for the First Year and Thereafter Four Weeks) Vacation Per Calendar Year, Fully Paid, in Addition to Major Holidays, as Defined by Company Policy. C. Other Time Off: The Employee Shall Be Subject to the Terms and Conditions of the Company Policy for Sick Leave, Personal Days and the Like. D. Qualified Plans: In the Event the Company Shall Adopt a 401(k) Plan; Section 125 Plan; or Their Equivalent, the Employee Shall Become Immediately Eligible for Participation, to the Extent Consistent With Law or Governmental Regulation
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