Employment Arrangement Summary for Robert P. Cathey with Ecosphere and EES
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Summary
Ecosphere's Board of Directors approved an employment arrangement for Robert P. Cathey, who served as Senior Vice President and Chief Operating Officer, and later as President and CEO of EES. Mr. Cathey receives a $125,000 annual base salary, 600,000 stock options at $0.36 per share (fully vested by December 31, 2011), and a 0.5% share of EES field services revenues. The agreement outlines his compensation and role changes within the company.
EX-10.5 3 esph_ex105.htm EMPLOYMENT ARRANGEMENT esph_ex105.htm
Exhibit 10.5
Summary of Robert P. Cathey Employment Arrangement
On August 30, 2009, Ecosphere’s Board of Directors approved a compensation package for Robert P. Cathey, formerly our Senior Vice President of and Chief Operating Officer of EES. Mr. Cathey receives an annual base salary of $125,000 per year and was granted 600,000 stock options exercisable at $0.36 per share, all of which are vested at December 31, 2011. In addition, Mr. Cathey receives one half percent of EES field services revenues. In April 2011, Mr. Cathey was named President and Chief Executive Officer of EES.
