Brooks Clause Samples

Brooks. Pursuant to th▇ ▇▇▇▇▇▇▇▇▇, ▇r. Brooks was appointed initi▇▇▇▇ ▇▇ ▇▇esident of the Company with an initial employment term ending June 15, 2000, with a rolling six month basis thereafter. From January 22, 1999 until June 15, 1999, and then from June 15, 1999 through August 31, 1999, his base salary was $1,000 and $3,417 per month respectively, reflecting his less than full-time commitments to the office during these periods. Effective September 1, 1999 and with his full-time assignment with the Company, his salary increased to $185,000 on an annualized basis. In addition to participation in the Company's group benefit plans and a monthly automobile allowance, Mr. Brooks was given the oppor▇▇▇▇▇▇ ▇▇ purchase for $20,000 a warrant to purchase 3,000,000 shares of the Company's common stock exercisable at $0.30 per share. The warrant, and the underlying common stock, are subject to the Company's repurchase right, which lapses 25% immediately and the remainder annual over the next three years. The base salary for Mr. Brooks was increased to $2▇▇,▇▇▇ ▇▇▇ective June 15, 2000 and was increased again to $217,000 effective January 1, 2002. The Board can terminate Mr. Brooks' employment without ▇▇▇▇▇ ▇▇ thirty days' written notice and the payment of base salary for the remainder of the employment term or six months, whichever is greater. SCHEDULE 3.16