Common use of Term of Employment; Compensation Clause in Contracts

Term of Employment; Compensation. The Company agrees to employ Employee from the date hereof until September __, 2003, as President and Chief Executive Officer, with the responsibilities normally associated with such position. The Company will pay Employee for his services during the term of the Employee's employment hereunder at an annual rate of One Hundred Twenty Five Thousand Dollars ($125,000), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. This salary will be subject to annual review and increase (but not decrease) by the Board of Directors of the Company or the Compensation Committee thereof.

Term of Employment; Compensation. The Company agrees to employ Employee from the date hereof until September __, 2003, as Vice President and Chief Executive OfficerScientist, with the responsibilities normally associated with such position. The Company will pay Employee for his services during the term of the Employee's employment hereunder at an annual rate of One Hundred Twenty Five Thousand Dollars ($125,000100,000), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. This salary will be subject to annual review and increase (but not decrease) by the Board of Directors of the Company or the Compensation Committee thereof.