Employment Contracts Term Sheet
Contract Categories:
Human Resources
- Employment Agreements
EX-10.1 2 spfx_ex10z1.htm EMPLOYMENT CONTRACTS TERM SHEET
EXHIBIT 10.1
Employment Contracts Term Sheet
The material terms of the employment contract with William Koppelmann are as follows:
| · | Duties: Serve as President, Chief Executive Officer, and Chairman of the Board of Directors |
| · | Term of contract: Five (5) Years |
| · | Salary: $250,000 for the twelve months period of July 1, 2022 through June 30, 2023 with annual increases of $25,000 for the four years thereafter |
| · | Cash Bonus: $25,000 payable annually on June 30 |
| · | Equity Signing Bonus: 10,000 options for the purchase of Common Stock |
| · | Performance Bonus: Additional options can be earned based on the following performance for fiscal year 2022: |
| Performance Target – Consolidated Total Revenue as reported in the 2022 Form 10-K | Number of Additional Stock Options |
| $10,000,000 or above | 25,000 |
| $9,000,000 - $9,999,999 | 22,500 |
| $8,000,000 - $8,999,999 | 20,000 |
| $7,000,000 - $7,999,999 | 10,000 |
The material terms of the employment contract with Brian Krogol are as follows:
| · | Duties: Serve as Chief Financial Officer |
| · | Term of contract: Five (5) Years |
| · | Salary: $175,000 for the twelve months period of July 1, 2022 through June 30, 2023 with annual increases of $25,000 for the four years thereafter |
| · | Cash Bonus: $25,000 payable annually on June 30 |
| · | Equity Signing Bonus: 10,000 options for the purchase of Common Stock |
| · | Performance Bonus: Additional options can be earned based on the following performance for fiscal year 2022: |
| Performance Target – Consolidated Total Revenue as reported in the 2022 Form 10-K | Number of Additional Stock Options |
| $10,000,000 or above | 25,000 |
| $9,000,000 - $9,999,999 | 22,500 |
| $8,000,000 - $8,999,999 | 20,000 |
| $7,000,000 - $7,999,999 | 10,000 |
