I am pleased to offer you an employment position with GCT Semiconductor, Inc. (the Company or GCT) pursuant to the following terms and conditions:
Salary. In consideration for your services to the Company, you shall receive a base salary of One Hundred Eighty Five Thousand Dollars ($185,000.00) per annum to be paid in equal installments two times per month from which the Company shall withhold and deduct all federal and state income, social security, disability, and other taxes as required by applicable laws. In addition to the base salary, a cash bonus of Thirty Thousand Dollars ($30,000) will be paid at the end of fiscal year 2004. Furthermore, you will be eligible to receive another Thirty Thousand Dollars ($30,000) provided the Company crosses Thirty Five Million Dollars ($35,000,000) mark for revenues in the fiscal year of 2004.
SALARY from Employment Agreement
EMPLOYMENT AGREEMENT, dated as of January 1, 2008 (the "Agreement") between Axion International Inc., a Delaware corporation (the "Company") with offices at 665 Martinsville Road, Suite 219, Basking Ridge, New Jersey 07920 and Marc Green (the "Executive").
SALARY. 2.1 (a) Base Salary. During the Employment Term, the Executive shall be entitled to receive a base salary (the "Base Salary") at a rate of $120,000 per annum, payable weekly in equal installments in accordance with the Company's payroll practices, with such increases as the Board may determine or as provided in the following subparagraph (b). Once increased, such higher amount shall constitute the Executive's Base Salary. (b) The Base Salary shall be increased during the Employment Term (i) by $30,000 at such time as the Company shall achieve annual revenues in excess of $10,000,000; and (ii) by an additional $30,000 at such time as the Company shall achieve annual revenues in excess of $25,000,000. 2.2 Bonus. In addition to the Executive's Base Salary, the Company may pay to the Executive during the Employment Term an annual bonus (the "Annual Bonus") based upon the Executive's performance, the amount of which bonus (if any) shall be solely within the discretion of the Company as determined by the Board.
Salary from Non Competition Agreement
THIS EMPLOYMENT AND NON-COMPETITION AGREEMENT ("Agreement") is made as of the 1st day of February, 2006, by and between Sweetskinz, Inc., a Pennsylvania corporation (the "Company"), and Andrew Boyland, a resident of New York, New York (the "Employee").
Salary. Upon the Effective Date, the Company shall pay Employee a signing bonus of $30,000. During the first year of the Initial Term of this Agreement, the Company shall provide Employee a guaranteed salary of $185,000.00 per annum, payable monthly in accordance with the Company's normal payroll practices (the "First Year Salary"). During each subsequent year of the Term, the Company shall provide Employee a salary at least equal to the First Year Salary but shall endeavor in good faith to raise Employee's annual salary to such level commensurate with Employee's performance over the prior 12 months, the progression and growth of the Company's business over the prior 12 months, then prevailing industry salary scales and other relevant factors. In no event shall Employee's guaranteed salary be less than the First Year Salary.
Salary from Employment Agreement
This Employment Agreement (this Agreement) is entered into as of June 30, 2005, by and between Nautilus, Inc., a Washington corporation (the Company or Employer), and Juergen Eckmann (Employee). In consideration of the premises and the mutual covenants and agreements hereinafter set forth, the Company and Employee hereby agree as follows:
Salary. As compensation for services to be rendered hereunder, the Company shall pay Employee an initial annual salary in the gross amount of US$195,000. Said salary will be paid in accordance with the Companys existing payroll policies, and shall be subject to normal and/or authorized deductions and withholdings. In addition, the Company will pay to Employee a one time bonus in the amount of $30,000 payable on August 1, 2005, which bonus will vest in 1/12 increments over a 12 month period of time beginning August 1, 2005. Should employee voluntarily resign from the Company prior to August 1, 2006 he will re-pay a pro rata amount of that unvested bonus for any remaining time that he is not employed prior to August 1, 2006.
Salary. For the services provided hereunder, you will be paid an annual cash base salary of $30,000. Payment shall be made no less frequently than once per month or upon such other terms as may be mutually agreed to by the Company and you. You will also be eligible to receive cash bonuses in each calendar year during the term of your employment in such amounts, if any, as shall be determined from time to time by the Board of Directors of the Company in its sole discretion. The Company shall withhold and remit appropriate federal and state taxes from all cash payments made to you in accordance with applicable federal and state regulations.