Completion Bonus from Employment Agreement
This Employment Agreement (Employment Agreement) is made as of April 9, 2007, to be effective as of April 9, 2007 (the Effective Date), by and among CLST-NAC, Ltd., formerly known as CellStar, Ltd., a Texas limited partnership (collectively, the Company) and Sherrian Gunn (the Employee).
Completion Bonus. Upon completion of the Term, or any Extended Term, the Company will pay to Employee a bonus in an amount equal to $257,100, which amount is twelve (12) times the monthly Wages of Employee pursuant to this Employment Agreement, plus an additional amount equivalent to two times the amount that is 30% of Employees annual salary pursuant to this Agreement (the Completion Bonus), payable to Employee in a lump sum amount, minus required withholdings and deductions, conditioned on Employees execution of a supplemental release agreement in the form attached as Exhibit B (Supplemental Release). If Employee declines to extend the Term and proper notice has been given by the Company, Employee will forfeit the Completion Bonus. Employee is only required to complete one Extended Term in order to receive the Completion Bonus. The Completion Bonus shall be paid to Employee within fifteen (15) days following the Employees execution of the Supplemental Release