DEFERRED COMPENSATION AGREEMENT
This Agreement confirms the previously agreed to terms concerning deferred
compensation between Trilogy International, Inc. ("Company") and Xx. Xxxx
Xxxxx("Employee").
Whereas, Employee was hired on April 1, 1999 at an annual salary of $100,000.00
and
Whereas, Employee agreed to defer payment of 25% of her salary for the period
from May 1, 1999 through December, 1999, and not demand payment of said deferred
salary until such time as the Company has been profitable for two consecutive
months and then to accept payment of the accrued salary due at that time in 4
monthly installments pari pasu with all other employees of the Company that have
made like concessions, The Company, therefore, has agreed to issue to Employee
2,000 Shares of Trilogy International Common Stock and to accrue interest on
said deferred salary at an annual rate of 12% from September 1, 1999 until paid
as consideration for the above salary concessions made by Employee.
AGREED______________________ DATE_____________________________
Xxxxx Xxxxxxx, President
For: Trilogy International, Inc.
("Company")
AGREED_______________________ DATE _____________________________
Xxxx Xxxxx
281
