EXECUTIVE EMPLOYMENT AGREEMENTExecutive Agreement • November 10th, 2014 • Axion Power International, Inc. • Miscellaneous electrical machinery, equipment & supplies • Pennsylvania
The Employment Agreement is entered into and effective this 1st day of November, 2014, between Axion Power International, Inc., a Delaware corporation, having a place of business at 3601 Clover Lane, New Castle, Pennsylvania 16105 (the "Company") and Charles Trego, having an address of 6945 Silverton Glenn, Victor, New York 14564 (the “Executive”).
AXION POWER INTERNATIONAL, INC. SALARY DEFERRAL PAYMENT AGREEMENTPayment Agreement • November 10th, 2014 • Axion Power International, Inc. • Miscellaneous electrical machinery, equipment & supplies
WHEREAS, upon review and consideration of the financial condition of Axion Power International, Inc. (the “Company”), and due to the commitment of the Company’s Chief Executive Officer and Chairman, David DiGiacinto (“CEO”) to providing the Company with the best opportunity for success based upon limited funds to be available to the Company as a result of its $6,000,000 offering of its common stock and warrants (“$6,000,000 Offering”), and in consideration of his continued employment and other benefits provided by the Company, as set forth in his July 1, 2014 Executive Employment Agreement with the Company (“Employment Agreement”), the CEO has agreed, effective as of October 4, 2014, to forgo receiving 50% of the base salary payments due to him for a period of one year; and
