Remuneration Contract Clauses (129)

Remuneration. In consideration of the Employee's services pursuant to this Agreement, the Corporation shall: 2.1.1. pay to the Employee, no less than $19,230.77 bi-weekly which annualizes to $500,000.00, as annual gross base salary, in accordance with the Corporation's remuneration policies; 2.1.2. review and increase the annualized gross base salary described in section 2.1.1 at the end of each fiscal year end, such salary adjustment being at the discretion of the Board of Directors of the Corporation. The s...alary adjustment is subject to the terms and conditions of the Corporation's remuneration policies; 2.1.3. pay to the Employee, in the first quarter of each fiscal year, a target cash bonus of 70% of the then gross base salary provided in Section 2.1.1. and Section 2.1.2., based on the Employee's and the Corporation's performance during the previous fiscal year, such performance evaluation and bonus determination being at the discretion of the Board of Directors of the Corporation. The cash bonus is subject to the terms and conditions of the Corporation's performance bonus plans. Employee shall be eligible to receive a pro-rated target cash bonus for the fiscal year ending December 31, 2017. View More

Remuneration. As full and complete compensation for services described in this Agreement, the Company shall compensate Consultant as follows: 4.1For undertaking this engagement and for other good and valuable consideration, the Company agrees to cause to be delivered to the Consultant a "Commencement Bonus" payable in the form of 100,000 (one hundred thousand) shares of the Company's Restricted Common Stock, which represents less than 5% of the issued and outstanding shares of common stock in the Company. Thi...s Commencement Bonus shall be issued to the Consultant immediately following execution of this Agreement and shall, when issued and delivered to Consultant, be fully paid and non-assessable. The Company understands and agrees that Consultant has foregone significant opportunities to accept this engagement. The shares of common stock issued as a Commencement Bonus, therefore, constitute payment for Consultant's agreement to consult to the Company and are non-refundable, non-apportionable, and non-ratable retainer; such shares of common stock are not a prepayment for future services. If the Company decides to terminate this Agreement after entered into for any reason whatsoever, it is agreed and understood that Consultant will not be requested or demanded by the Company to return any of the shares of Common Stock paid to it as Commencement Bonus hereunder. Further, if and in the event the Company is acquired in whole or in part, during the term of this Agreement, it is agreed and understood Consultant will not be requested or demanded by the Company to return any of the shares of Common Stock paid to it hereunder. It is further agreed that if at any time during the term of this Agreement, the Company or substantially all of the Company's assets are merged with or acquired by another entity, or some other change occurs in the legal entity that constitutes the Company, the Consultant shall retain and will not be requested by the Company to return any of the shares of Common Stock. 4.2With each transfer of shares of Common Stock to be issued pursuant to this Agreement (collectively, the "Shares"), Company shall cause to be issued a certificate representing the Common Stock and a written opinion of counsel for the Company stating that said shares are validly issued, fully paid, and non-assessable and that the Issuance and eventual transfer of them to Consultant pursuant to this Agreement shall have been validly issued, fully paid, and non-assessable and that the issuance, and any transfer of them to Consultant shall have been duly authorized by the Company's board of directors. View More