Amendment to Employment Agreement between IMMUDYNE, INC. and Brunilda McLaughlin DBA McLaughlin International, Inc.
IMMUDYNE, INC. and Brunilda McLaughlin DBA McLaughlin International, Inc. have amended their April 20, 2011 Employment Agreement to clarify compensation terms. The amendment confirms that salary is paid twice monthly, with potential for additional salary if the company's finances allow. It also adds an annual incentive bonus equal to 0.5% of the company's pre-tax earnings, payable within 90 days after each semi-annual fiscal year. Pre-tax earnings are defined according to standard accounting principles. The amendment was executed on April 30, 2011.
Amendments to Employment Agreement
The Employment Agreement dated as of April 20, 2011, between IMMUDYNE, INC. and Brunilda McLaughlin DBA McLaughlin International, Inc. inadvertently omitted the annual incentive bonus Section. Therefore, kindly include the following two Amendments to the Agreement in Section 4:
| · | a salary paid twice monthly (as has been and is occurring), with additional salary to be agreed upon when the Company has the financial wherewithal; |
| · | an annual incentive bonus award amounting to one half of one percent (0.5%) of the Pre-Tax Earnings of the Company, payable within 90 days after the end of each semi-annual fiscal year ended after the effective date of this Agreement. “Pre Tax Earnings” shall mean earnings of the Company determined prior to payment or deduction of federal or state income taxes, determined in accordance with generally accepted accounting principles, consistently applied. |
EXECUTED as of April 30, 2011
| IMMUDYNE, INC. | Employee |
| By: /s/ Anthon Bruzzese | By: /s/ Brulinda McLaughlin |
| Anthony Bruzzese, M.D. | Brunilda McLaughlin |
| Chairman | DBA McLaughlin International, Inc. |
