American TonerServ Corp. Compensation Plan for Division President (Michael Ducey)

Summary

This agreement outlines the compensation plan for Michael Ducey as Division President of NCTS, a division of American TonerServ Corp. Ducey is responsible for managing business operations, growing revenue, and overseeing sales and customer service. He will receive a $75,000 annual salary, full employee benefits, paid time off, and eligibility for monthly profit sharing and revenue growth bonuses. The plan includes a minimum bonus schedule for the initial months, a travel budget, and a semi-annual compensation review. The agreement clarifies that employment is at-will and not contractually guaranteed.

EX-10.2 3 amer8k021209ex102.txt COMPENSATION PLAN WITH MICHAEL DUCEY Exhibit 10.2 American TonerServ Corp. Compensation Plan Job Title: Division President - ---------- Status: Full-time, Exempt - ------- Position Purpose: - ----------------- o Manage the overall business activities and financial performance of NCTS o Lead the efforts at NCTS to grow revenue and increase profit margins o Set sales plans and budgets o Manage and direct the Company's sales team and sales representative activities o Develop new business and maintain key customer accounts o Develop and deliver sales and marketing materials, method of delivery, plans and schedule o Manage, direct and uphold customer service activities to limit attrition o Oversee purchasing practices and vendor relationships on equipment, raw goods, parts, and outsourced finished goods o Undertake additional or other duties as necessary to meet the needs of the business Base Compensation & Benefits - ---------------------------- o $75,000 annual, paid on a bi-weekly basis o Employee benefits (Medical, Dental, Vision) covered at 100%, up to $1,200 monthly o Accrue PTO at the rate of 3 weeks per year Incentive Compensation (see attached compensation plan) - ---------------------- o Monthly profit sharing (measured using EBITDA 3-month rolling monthly average) o Share of monthly revenue growth (measured using current 3-month rolling monthly average vs. 2008 baseline of $105,000) o Minimum bonus for initial period, March through July -------------- ---------- ---------- ---------- ---------- -------- ---------- Month March April May June July August -------------- ---------- ---------- ---------- ---------- -------- ---------- Min. Bonus $6,250 $3,750 $2,750 $1,750 $750 $0 -------------- ---------- ---------- ---------- ---------- -------- ---------- Additional Information - ---------------------- o Monthly travel budget of $2,000 per month, expectation of 8 business days / month on-site at NCTS o Compensation package to be reviewed on a semi-annual basis, initial review scheduled August 30th o Stock option targets will be established within 1st quarter 2009, based on division growth February 1st, 2008 2/16/09 - ------------------------------ -------------------------------- Effective Date Today's Date /s/ Chuck Mache /s/ Michael Ducey Chuck Mache, President & CEO Michael Ducey, Division President This compensation plan does not represent a contract or guarantee of ongoing employment. ATS is an at-will employer and only the President of the company has the authority to alter this policy.