Employment of Seller. The key terms of any employment of the seller by the buyer following the closing.
Employment of Seller. Seller shall have entered into an employment agreement with Buyer in the form annexed hereto as Exhibit B.
Employment of Seller. Seller and Purchaser shall enter into mutually agreeable Employment Agreements simultaneously herewith that provide for a salary to Xxxxxx of Seventy-five Thousand Dollars ($75,000.00) for one (1) year following the Closing Date, Eighty-seven Five Hundred Dollars ($87,500.00) in the second year following the Closing Date and One Hundred Thousand Dollars ($100,000.00) in the third year following closing. A cost of living adjustment of twenty-five percent (25%) will be included, if Xxxxxx is required to move to Maryland. Xxxxxx shall receive three percent (3%) of the gross profit from the sale of the Personal operator or Xxxxx XXXXX(TM) software by the Company, to be paid fifty percent (50%) in cash and fifty percent (50%) in Rule 144 Legend Shares of Carnegie at the end of each calendar year.
Employment of Seller. Seller shall conclude not later than at the Closing Date a consultancy agreement with Purchaser. Seller and Purchaser will negotiate such agreement after the execution hereof taking into account the needs of the business.
Employment of Seller. The Purchaser shall hire the Seller as an employee at a base annual salary of sixty-five thousand U.S. Dollars ($65,000), paid weekly. The term of the Seller’s employment shall be three years, subject to termination by either party with or without cause upon 30 days written notice. In the event the Purchaser terminates the Seller’s employment without cause, the Seller shall be entitled to one week of severance for each full year of service to the Purchaser. The Seller’s Base salary will be reviewed and adjusted annually based on the completion of mutually agreed upon performance objectives. As an employee of the Purchaser, the Seller will receive the following benefits: a company laptop computer, five (5) sick days and two (2) weeks paid vacation. After maintaining continuous employment with the Purchaser for three (3) years, the Seller will gain an additional two (2) weeks paid vacation (four (4) total weeks’ vacation in the aggregate.) The Seller will be entitled on the 15th day of each month to monthly reimbursement of automobile expenses up to $400, subject to submission of an automobile expense report by the first Monday of each month. In addition to his base salary, the Purchaser shall pay to the Seller, for so long as he is an employee of the Purchaser, (i) a two and one half percent (2.5%) commission on all SorbTech product net sales generated directly as a result of his efforts (this commission shall be payable quarterly in arrears) and (ii) a five percent (5%) commission on net sales of all OMNI/Ajax products sold by the Purchaser (this 5% commission will be paid bi-annually in arrears).
Employment of Seller. Seller and Purchaser shall enter into mutually agreeable Employment Agreements simultaneously herewith that provide for salaries to Xxxxx Xxxx and Xxxxx Xxxx, if any, totaling Two Hundred Thousand Dollars ($200,000.00).
Employment of Seller. For a period of one year following Closing, the SELLER will be employed by BUYER and serve as the Vice President of Latin American Operations reporting to the Chief Executive Officer and will be available in person or by telephone to assist in the transition of DirectCom into the operations of the BUYER and to perform the activities of business development on behalf of the BUYER in Latin America as will be further described in the job description to be developed for the SELLER. SELLER will receive an annual salary of $120,000 and other consideration as received by other senior personnel. Due to the absence of sufficient working capital at the present time and up to the time BUYER can afford to do so, the SELLER will receive a monthly salary of $4,000 (less applicable taxes) with the difference of $6,000 per month made up of stock grants. BUYER shall reimburse SELLER for all reasonable out-of-pocket expenses incurred by SELLER, in accordance with BUYER's policies, in connection with his compliance with this SECTION 6.5. For the first year this agreement shall not be terminable except for cause. Thereafter BUYER can terminate the agreement upon ninety (90) days written notice without cause.
Employment of Seller. 31 7.5 Florida Market Headquarters . . . . . . . . . . . . . . . . . . 31 7.6 Merger of SafeGuard Florida and the Company . . . . . . . . 31
Employment of Seller. Effective as of the Closing Date, Buyer ---------------------- shall employ Seller pursuant to the terms of the Employment Agreement in the form of Exhibit B attached hereto. ----------
Employment of Seller. The Corporation simultaneously with the closing of this transaction shall enter into a written employment agreement with the Seller upon the terms and conditions set forth in Exhibit "C" attached hereto.
