XXXXX XXXXXXX
EMPLOYMENT CONTRACT
SAINT XXXXXXX GOLF / ALL-AMERICAN SPORTPARK
TITLE
Vice President New Business Development & Creative Services
TERM
One year or until the first All-American SportPark opens (projected Las Vegas,
NV October 1, 1996 - October 1, 1997)
SALARY
$100,000
BONUS
$25,000Payable at 2 weeks prior to the opening of the SportPark.
COMPANY VEHICLE
Remains the same as existing
COMMISSIONS
5% of All Sponsorship Sales including Hard Dollar Corporate investments and
Soft Dollar assigned value, i.e.: Electronic Hardware, Marketing Promotions,
Advertising Revenue, SportPark Athletic Equipment, etc. for the length and
complete duration of the length of the sponsors contract with Saint Xxxxxxx
Golf Corporation and the All-American SportPark.
AASP FOUNDING SPONSORSHIPS (THE MAJORS, COCA-COLA, IBM, KODAK, ETC.)
- Xxxx Xxxxxxxxxx 5%
- Xxx Xxxxx 5%
- Xxxxx Xxxxxxx 5%
- Specialist 5%
(In the event where there is no specialist needed the sales commissions will
be increased and will be distributed equally by 1/3 (one-third) to each
person.
NASCAR SPEEDPARK SPONSORSHIP OF GO-KARTS, TRACK SIGNAGE, ETC.
- Xxx Xxxxx 5%
- Xxxx Xxxxxxx 5%
- Xxxxx Xxxxx 5%
- Xxxxx Xxxxxxx 5%
Payments on commission sales will be paid at the beginning of each quarter
beginning January 1, 1997, if sponsorship revenue is collected. The other
dates include: April 1, 1997, July 1, 1997, October 1, 1997 and all subsequent
years per sponsorship contracts and including their estimated value totals.
RENEWAL
Both parties agree to renegotiate contract beginning on or before but no later
than August 30, 1997, in good faith to finalize a new contract decision before
September 30, 1997.
If parties agree please sign where indicated below.
/s/ Xxx Xxxxxx 10/8/96
Xxx Xxxxxx Date
President and CEO Saint Xxxxxxx Golf Corporation
/s/ Xxxxx Xxxxxxx 10/17/96
Xxxxx Xxxxxxx Date
Vice President New Business and Creative Services
