Oral Services Agreement Terms between Murrey Wanstrath and TNFG Corporation
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Summary
This agreement outlines the terms under which Murrey Wanstrath will assist TNFG Corporation in dissolving and winding up the company. Mr. Wanstrath will receive a $150,000 bonus upon the successful sale of Terra Nova Financial, LLC to Lightspeed Financial, Inc., continue to receive his $185,000 base salary through April 30, 2011, and may earn an additional incentive bonus of 15% of shareholder distributions over $1.00 per share, up to $250,000, after the final distribution is determined.
EX-10.10 3 terra10k123110ex1010.htm TERMS OF ORAL SERVICES AGREEMENT TNFG Corporation - Exhibit 10.10
Exhibit 10.10 Terms of oral Services Agreement between Murrey Wanstrath and the Company
As determined November 23, 2010
Mr. Wanstrath will provide services to complete the dissolution and wind-up of the Company in a timely and efficient manner.
Mr. Wanstrath is to receive a $150,000 bonus payable immediately in connection with the successful completion of the sale of Terra Nova Financial, LLC to Lightspeed Financial, Inc.
Mr. Wanstrath is to continue to receive his base compensation of $185,000 through April 30, 2011 and is to receive as an incentive bonus, 15% of the funds available for distribution to shareholders over $1.00 per share, not to exceed $250,000, payable upon final determination of the final distribution to the shareholders.
Exhibit 10.10 Terms of oral Services Agreement between Murrey Wanstrath and the Company
As determined November 23, 2010
Mr. Wanstrath will provide services to complete the dissolution and wind-up of the Company in a timely and efficient manner.
Mr. Wanstrath is to receive a $150,000 bonus payable immediately in connection with the successful completion of the sale of Terra Nova Financial, LLC to Lightspeed Financial, Inc.
Mr. Wanstrath is to continue to receive his base compensation of $185,000 through April 30, 2011 and is to receive as an incentive bonus, 15% of the funds available for distribution to shareholders over $1.00 per share, not to exceed $250,000, payable upon final determination of the final distribution to the shareholders.
