Common use of Additional Remuneration Clause in Contracts

Additional Remuneration. The Executive will also be eligible to receive an annual cash bonus of up to $125,000 for each fiscal year (the “Annual Bonus”), less withholding required by law, based on performance criteria established by the Chief Executive Officer, which criteria shall be subject to change from year to year, in the discretion of the Chief Executive Officer. During the first six months of employee the bonus amount of $62,500 shall be guaranteed. Annual Bonus criteria shall be determined by the Chief Executive Officer and approved by the Board of Directors, by no later than the first 60 days in each fiscal year. Except as otherwise determined by the Board of Directors or set forth herein, the Executive’s Annual Bonus will be paid only if the Executive is actively employed by and in good standing with the Corporation at the time of such bonus payments. Any period of notice which was given or ought to have been given, will not be deemed to be active employment. The Executive will be granted an option to acquire 150,000 common shares in Wescom Inc. The options will have a strike price equivalent to their fair market value, as determined by the Board of Directors, commencement of employment and will vest over four years at 25% per annum. In the event of a acquisition of the Wescom by a third party, 50% of the unvested options shall vest on the date on closing of the transaction.