Common use of Compensation; Reimbursement Clause in Contracts

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("Base Salary") of One hundred Ninety-Eight Thousand Dollars ($198,000), payable in installments as is the policy of the Corporation with respect to employees of the Corporation at substantially the same employment level as the Employee, but in no event less frequently than once per month. Thereafter, the Base Salary shall be subject to increase at the option and in the sole discretion of the Board of Directors of the Corporation. (b) Employee shall be eligible for an annual bonus as determined by the Board of Directors of the Corporation based on Employee's performance. The bonus payment to Employee for a calendar year is contingent upon the Employee being retained as an employee of the Corporation at the time such payments are made. (c) Employee shall be eligible for an annual stock option grant consistent with the Corporation's Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's performance. (d) During the Term of Employment, the Employee shall be entitled to such fringe benefits as are made available from time to time to the employees of the Corporation at substantially the same employment level as the Employee, including, without limitation, 4 weeks paid vacation. (e) The Corporation shall reimburse Employee, in accordance with the practice from time to time for other officers of the Corporation, for all reasonable and necessary traveling expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers, receipts and reports.

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's ’s option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("“Base Salary"”) of One hundred Ninety-Eight Thousand Dollars ($198,000)150,000, payable in installments as is the policy of the Corporation with respect to employees of the Corporation at substantially the same employment level as the Employee, but in no event less frequently than once per month. Thereafter, the Base Salary shall be subject to increase at the option and in the sole discretion of the Board of Directors of the Corporation. (b) Employee shall be eligible for an annual bonus as determined by the Board of Directors of the Corporation based on Employee's ’s performance. The bonus payment to Employee for a calendar year is contingent upon the Employee being retained as an employee of the Corporation at the time such payments are made. (c) Effective in 2005, the Employee shall be eligible for an annual stock option grant consistent with the Corporation's ’s Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's ’s performance. Upon employment, the Employee will receive a stock option grant in the amount of 25,000 shares. (d) During the Term of Employment, the Employee shall be entitled to such fringe benefits as are made available from time to time to the employees of the Corporation at substantially the same employment level as the Employee, including, without limitation, 4 weeks of paid vacationvacation time. (e) The Corporation shall reimburse Employee, in accordance with the practice from time to time for other officers of the Corporation, for all reasonable and necessary traveling expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers, receipts and reports.

Compensation; Reimbursement. (a) During the Term of EmploymentEmployment Period, the Corporation Company (or at the CorporationCompany's option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary (the "Base Salary") of One hundred Ninety-Eight Thousand Dollars (not less than $198,000)190,000, payable in such installments as is the policy of the Corporation Company with respect to its senior executive officers. Such Base Salary will be reviewed at least annually and may be increased by the Board (or, if such authority shall be delegated by the Board to the Compensation Committee thereof, then by such Committee) in its sole discretion. (b) From time to time the Employee may also receive cash bonuses at the discretion of the Board or the Compensation Committee. (c) During the Employment Period and to the extent available to employees of the Corporation Company, the Employee shall be entitled to participate in all of the Company's benefit plans, pension and retirement plans, life insurance, hospitalization and surgical and major medical coverages, sick leave, vacation and holiday policies, disability coverage and such other fringe benefits enjoyed by other employees at substantially the same employment level as the Employee, but in no event less frequently than once per month. Thereafter, the Base Salary shall be subject to increase at the option and in the sole discretion of the Board of Directors of the Corporation. (b) Employee shall be eligible for an annual bonus as determined by the Board of Directors of the Corporation based on Employee's performance. The bonus payment to Employee for a calendar year is contingent upon the Employee being retained as an employee of the Corporation at the time such payments are made. (c) Employee shall be eligible for an annual stock option grant consistent with the Corporation's Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's performance. (d) During the Term of Employment, the Employee shall be entitled to such fringe benefits as are made available from time to time to the employees of the Corporation at substantially the same employment level as the Employee, including, without limitation, 4 weeks paid vacation. (e) The Corporation Company shall reimburse the Employee, in accordance with the practice from time to time for other officers employees of the CorporationCompany, for all reasonable and necessary traveling expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation Company in the performance of his duties hereunder upon presentation by the Employee to the Corporation Company of appropriate vouchers. (e) The Employee shall maintain a suitable automobile for business use. During the Employment Period, receipts the Company shall pay the Employee a $400 per month car allowance towards the costs of leasing, using, insuring, repairing and reportsmaintaining such automobile. (f) Following the expiration or termination of this Agreement for any reason, the Employee shall have the right to maintain any (i) health and life insurance benefits provided by the Company to the extent provided under applicable law and (ii) any life insurance benefits provided by the Company so long as the Employee makes the premium payments relating to such life insurance.

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("Base Salary") of One hundred Ninety-Eight Three Hundred Thousand Dollars ($198,000), 300,000) payable in installments as is the policy of the Corporation with respect to employees of the Corporation at substantially the same employment level as the Employee, but in no event less frequently than once per monthbi-monthly installments. Thereafter, the The Base Salary shall be reviewed annually and be subject to increase at the option and in the sole discretion of the Board of Directors of the Corporation. (b) Employee shall be eligible for During the Term of Employment, on an annual basis, Employee may be entitled to a bonus and stock option grants as determined by the Board of Directors of the Corporation based on Employee's performance. The There will be no guaranteed or minimum bonus payment to Employee for or a calendar year is contingent upon stock option grant and the Employee being retained as an employee bonus and stock option grant, if any, will be within the sole discretion of the Corporation at the time such payments are madeBoard of Directors. (c) Employee shall be eligible for an annual stock option grant consistent with the Corporation's Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's performance. (d) During the Term of Employment, the Employee shall be entitled to family medical and dental insurance coverage (the cost of which shall be paid by the Corporation) short and long term disability coverage, eligibility for participation in the Corporation's 401K plan and to such other fringe benefits as are made available from time to time to the employees executives of the Corporation at substantially the same employment level as the EmployeeCorporation, including, without limitation, 4 including four (4) weeks paid vacation. (ed) The Corporation shall reimburse Employee, in accordance with the its practice from time to time for other officers employees of the Corporation, for all reasonable and necessary traveling travel expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers, receipts and reports.

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("Base Salary") of One hundred Ninety-Eight Thousand Dollars ($198,000)210,000, payable in installments as is the policy of the Corporation with respect to employees of the Corporation at substantially the same employment level as the Employee, but in no event less frequently than once per month. Thereafter, the Base Salary shall be subject to increase at the option and in the sole discretion of the Board of Directors of the Corporation. (b) Employee shall be eligible for an annual bonus as determined by the Board of Directors of the Corporation based on Employee's performance. The bonus payment to Employee for a calendar year is contingent upon the Employee being retained as an employee of the Corporation at the time such payments are made. (c) Effective in 2005, Employee shall be eligible for an annual stock option grant consistent with the Corporation's Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's performance. Upon employment the Employee will receive a stock option grant in the amount of 50,000 shares. (d) During the Term of Employment, the Employee shall be entitled to such fringe benefits as are made available from time to time to the employees of the Corporation at substantially the same employment level as the Employee, including, without limitation, 4 four (4) weeks of paid vacationvacation time. (e) The Corporation shall reimburse Employee, in accordance with the practice from time to time for other officers of the Corporation, for all reasonable and necessary traveling expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers, receipts and reports.

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("Base Salary") of One hundred Ninety-Eight Thousand Dollars ($198,000)150,000, payable in installments as is the policy of the Corporation with respect to employees of the Corporation at substantially the same employment level as the Employee, but in no event less frequently than once per month. Thereafter, the Base Salary shall be subject to increase at the option and in the sole discretion of the Board of Directors of the Corporation. (b) Employee shall be eligible for an annual bonus as determined by the Board of Directors of the Corporation based on Employee's performance. The bonus payment to Employee for a calendar year is contingent upon the Employee being retained as an employee of the Corporation at the time such payments are made. (c) Employee shall be eligible for an annual stock option grant consistent with the Corporation's Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's performance. (d) During the Term of Employment, the Employee shall be entitled to such fringe benefits as are made available from time to time to the employees of the Corporation at substantially the same employment level as the Employee, including, without limitation, 4 four weeks paid vacation. (e) The Corporation shall reimburse Employee, in accordance with the practice from time to time for other officers of the Corporation, for all reasonable and necessary traveling expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers, receipts and reports.

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("Base Salary") of One hundred NinetyHundred Forty-Eight Seven Thousand Dollars ($198,000147,000), payable in installments as is the policy of the Corporation with respect to employees of the Corporation at substantially the same employment level as the Employee, but in no event less frequently than once per monthbi-monthly installments. Thereafter, the The Base Salary shall be reviewed annually and be subject to increase at the option and in the sole discretion of the President and CEO and Board of Directors of the Corporation. (b) Employee shall be eligible for During the Term of Employment, on an annual basis, Employee may be entitled to a bonus and stock option grants as determined by the President and CEO and Board of Directors of the Corporation based on Employee's performance. The There will be no guaranteed or minimum bonus payment to Employee for or a calendar year is contingent upon stock option grant and the Employee being retained as an employee bonus and stock option grant, if any, will be within the sole discretion of the Corporation at President and CEO and the time such payments are madeBoard of Directors. (c) Employee shall be eligible for an annual stock option grant consistent with the Corporation's Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's performance. (d) During the Term of Employment, the Employee shall be entitled to family medical and dental insurance coverage (the cost of which shall be paid by the Corporation) short and long term disability coverage, eligibility for participation in the Corporation's 401K plan and to such other fringe benefits as are made available from time to time to the employees executives of the Corporation at substantially the same employment level as the EmployeeCorporation, including, without limitation, 4 including four (4) weeks paid vacation. (ed) The Corporation shall reimburse Employee, in accordance with the its practice from time to time for other officers employees of the Corporation, for all reasonable and necessary traveling travel expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers, receipts and reports.

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's ’s option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("“Base Salary"”) of One hundred Ninety-Eight Hundred Ninety Thousand Dollars ($198,000190,000), payable in installments as is the policy of the Corporation with respect to employees of the Corporation at substantially the same employment level as the Employee, but in no event less frequently than once per month. Thereafter, the Base Salary shall be subject to increase at the option and in the sole discretion of the Board of Directors of the Corporation. (b) Employee shall be eligible for an annual bonus as determined by the Board of Directors of the Corporation based on Employee's ’s performance. The bonus payment to Employee for a calendar year is contingent upon the Employee being retained as an employee of the Corporation at the time such payments are made. (c) Employee shall be eligible for an annual stock option grant consistent with the Corporation's ’s Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's ’s performance. (d) During the Term of Employment, the Employee shall be entitled to such fringe benefits as are made available from time to time to the employees of the Corporation at substantially the same employment level as the Employee, including, without limitation, 4 weeks paid vacation. (e) The Corporation shall reimburse Employee, in accordance with the practice from time to time for other officers of the Corporation, for all reasonable and necessary traveling expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers, receipts and reports.

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("Base Salary") of One hundred Ninety-Eight Hundred and Seventy Thousand and Forty Dollars ($198,000170,040), payable in installments as is the policy of the Corporation with respect to employees of the Corporation at substantially the same employment level as the Employee, but in no event less frequently than once per month. Thereafter, the Base Salary shall be subject to increase at the option and in the sole discretion of the Board of Directors of the Corporation. (b) Employee shall be eligible for an annual bonus as determined by the Board of Directors of the Corporation based on Employee's performance. The bonus payment to Employee for a calendar year is contingent upon the Employee being retained as an employee of the Corporation at the time such payments are made. (c) Employee shall be eligible for an annual stock option grant consistent with the Corporation's Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's performance. (d) During the Term of Employment, the Employee shall be entitled to such fringe benefits as are made available from time to time to the employees of the Corporation at substantially the same employment level as the Employee, including, without limitation, 4 weeks paid vacation. (e) The Corporation shall reimburse Employee, in accordance with the practice from time to time for other officers of the Corporation, for all reasonable and necessary traveling expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers, receipts and reports.

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("Base Salary") of One Three hundred Ninety-Eight Thousand Dollars thousand dollars ($198,000300,000), payable in installments as is the policy of the Corporation with respect to employees of the Corporation at substantially the same employment level as the Employee, but in no event less frequently than once per month. Thereafter, the Base Salary shall be subject to increase at the option and in the sole discretion of the Board of Directors of the Corporation. (b) Employee shall be eligible for an annual bonus as determined by the Board of Directors of the Corporation based on Employee's performance. The bonus payment to Employee for a calendar year is contingent upon the Employee being retained as an employee of the Corporation at the time such payments are made. In calendar year 2004, the employee shall be eligible for a target bonus of 40% of Base Salary, based upon the full calendar year. (c) Employee shall be eligible for an annual stock option grant consistent with the Corporation's Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's performance. Contingent upon approval of the Board of Directors, the Employee will be granted a stock option agreement for One hundred thousand (100,000) shares upon employment. The exercise price of these options will be the closing price as quoted on NASDAQ on the day the options are approved by the Board of Directors. (d) During the Term of Employment, the Employee shall be entitled to such fringe benefits as are made available from time to time to the employees of the Corporation at substantially the same employment level as the Employee, including, without limitation, 4 four (4) weeks paid vacation. (e) The Corporation shall reimburse Employee, in accordance with the practice from time to time for other officers of the Corporation, for all reasonable and necessary traveling travel expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers, receipts and reports. (f) The Corporation shall reimburse Employee for other reasonable expenses during the Term of Employment as follows: (i) Reasonable travel and lodging expenses for house hunting trips to New Jersey for Employee and Employee's spouse to locate and purchase appropriate housing for Employee and family. (ii) Temporary living expenses for Employee, up to eighteen (18) months at an extended stay hotel, furnished apartment or similar type long-term stay accommodation. (iii) Travel to and from Employee's current home in Texas, coach class, twice per month for up to eighteen (18) months. (iv) Packing, shipping and unpacking of Employee's household goods and personal belongings that are normally part of relocation. (v) The physical relocation trip for Employee and family from Texas to New Jersey, including transportation, hotels and meals. (vi) A one-time relocation payment of Twenty five thousand dollars ($25,000) to help defray the incidental expenses related to relocation. This payment will be made upon Employee's physical relocation to New Jersey, and will be considered regular income and taxed as such. (vii) Should the Employee voluntarily terminate his employment in less than two