And he's doinfg it for not a lot of money. Per tod
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Posted On: 11/21/2023 5:31:00 PM
And he's doinfg it for not a lot of money. Per today's 8-k:
Section 3.1 Compensation and Benefits. For all services rendered by the Executive in any capacity during
the Term (including, without limitation, serving as an officer, director or member of any committee of the
Company or any of its subsidiaries or other Affiliates), the Executive shall be compensated (subject, in each case,
to the provisions of ARTICLE 4 below), as determined by the Compensation Committee, as follows:
(a) Base Salary. The Executive has elected to receive the minimum salary, as required by law, for the
term of this Agreement. During the Term, the Executive’s base salary (the “Base Salary”), and any
adjustments thereto, is subject to approval by the Compensation Committee of the Board (the
“Compensation Committee”), and shall be subject to customary withholdings and authorized deductions
and be payable in equal installments in accordance with the Company’s customary payroll practices in
place from time to time. The Executive’s Base Salary shall be subject to periodic adjustments as determined
by the Compensation Committee. As used in this Agreement, the term “Base Salary” shall refer to Base
Salary as may be adjusted from time to time.
(b) Annual Bonus. The Executive has elected to forego bonus compensation under this Agreement.
(c) Equity Compensation. The Executive has elected to forego equity compensation under this
Agreement.
(d) Benefit Plans. The Executive shall be entitled to participate in all employee benefit plans and
programs (excluding severance plans, if any) generally made available by the Company to senior
leadership of the Company, to the extent permissible under the general terms and provisions of such plans
or programs and in accordance with the provisions thereof, and as otherwise required by applicable law.
The Company may amend, modify or rescind any employee benefit plan or program and/or change
employee contribution amounts to benefit costs without notice in its discretion.
(e) Paid Time Off. The Executive shall be entitled to paid time off in accordance with the Company’s
policies in effect from time to time for its senior management and as otherwise required by applicable law.
Section 3.1 Compensation and Benefits. For all services rendered by the Executive in any capacity during
the Term (including, without limitation, serving as an officer, director or member of any committee of the
Company or any of its subsidiaries or other Affiliates), the Executive shall be compensated (subject, in each case,
to the provisions of ARTICLE 4 below), as determined by the Compensation Committee, as follows:
(a) Base Salary. The Executive has elected to receive the minimum salary, as required by law, for the
term of this Agreement. During the Term, the Executive’s base salary (the “Base Salary”), and any
adjustments thereto, is subject to approval by the Compensation Committee of the Board (the
“Compensation Committee”), and shall be subject to customary withholdings and authorized deductions
and be payable in equal installments in accordance with the Company’s customary payroll practices in
place from time to time. The Executive’s Base Salary shall be subject to periodic adjustments as determined
by the Compensation Committee. As used in this Agreement, the term “Base Salary” shall refer to Base
Salary as may be adjusted from time to time.
(b) Annual Bonus. The Executive has elected to forego bonus compensation under this Agreement.
(c) Equity Compensation. The Executive has elected to forego equity compensation under this
Agreement.
(d) Benefit Plans. The Executive shall be entitled to participate in all employee benefit plans and
programs (excluding severance plans, if any) generally made available by the Company to senior
leadership of the Company, to the extent permissible under the general terms and provisions of such plans
or programs and in accordance with the provisions thereof, and as otherwise required by applicable law.
The Company may amend, modify or rescind any employee benefit plan or program and/or change
employee contribution amounts to benefit costs without notice in its discretion.
(e) Paid Time Off. The Executive shall be entitled to paid time off in accordance with the Company’s
policies in effect from time to time for its senior management and as otherwise required by applicable law.
(9)
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