Third Amendment to Employment Agreement between Ecology Coatings, Inc. and Sally J.W. Ramsey

Contract Categories: Human Resources › Employment Agreements
Summary

This amendment updates the employment agreement between Ecology Coatings, Inc. and Sally J.W. Ramsey, effective May 18, 2011. It changes the executive's annual base salary to $100,000, with the salary subject to annual review by the company's Compensation Committee and paid semi-monthly. All other terms of the original agreement remain unchanged.

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EX-10.92 2 ramseyamend3rd.htm THIRD AMENDMENT OF RAMSEY'S EMPLOYMENT AGREEMENT ramseyamend3rd.htm
 
 
 

THIRD AMENDEMENT TO EMPLOYMENT AGREEMENT
 
This Third Amendment to Employment Agreement is made as May 18, 2011 (“Amendment”), by and between Ecology Coatings, Inc., a Nevada corporation (“Company”) and Sally J.W. Ramsey (“Executive”) and amends the Employment Agreement between Company and Executive dated January 1, 2007 (“Agreement”).
 
1. The parties agree to amend Section 4.1 of the Agreement as follows:
 
The Company shall pay the Executive an annual salary for her services under the Agreement of $100,000 (“Base Salary”).  The Base Salary shall be reviewed by the Compensation Committee of the Company’s Board of Directors for possible adjustment annually.  Such salary shall be payable semi-monthly, subject to applicable withholding and other taxes.
 
2.  
In all other respects, the terms of the Agreement shall remain in full force and effect.

 
 
ECOLOGY COATINGS, INC.
 

 
By:  /s/ Robert G. Crockett                                                                                            /s/ Sally Ramsey                                
 
         Robert G. Crockett                                                                                                Sally J.W. Ramsey
 

 
Its:  CEO