FAVRILLE, INC. SALARY DEFERRAL PAYMENT AGREEMENTSalary Deferral Payment Agreement • August 11th, 2008 • Favrille Inc • Biological products, (no disgnostic substances)
WHEREAS, at the May 28, 2008 meeting of the Special Strategic Meeting of the Board of Directors of Favrille, Inc. (the “Company”), due to the Company’s dire financial condition and in consideration of his continued employment and other benefits provided by the Company, John P. Longenecker, the Company’s President and Chief Executive Officer, agreed to immediately and indefinitely forgo receiving any future salary payments until such time as the Company may resume making such salary payments to him without jeopardizing the Company’s ability to continue as a going concern.
