Common use of Compensation and Benefits During the Employment Term Clause in Contracts

Compensation and Benefits During the Employment Term. a. The Executive's base compensation shall be at the rate of $7,500.00 per month, for the term of this Agreement, payable in regular installments in accordance with Xxxxxxx'x payroll practices, less applicable withholding for income and employment taxes as required by law and other deductions as to which the Executive may agree. Such base compensation shall be subject to increases as and when determined by the Company and its 51% owner at their sole discretion. b. In addition to the Executive's base compensation, the Executive will be entitled to a royalty payment of 1% for all ODV products manufactured by Xxxxxxxx. This royalty will not apply to products manufactured by third parties or any subsequent licensing agreement. c. The Executive shall be entitled to reimbursement of all reasonable, ordinary and necessary business-related expenses incurred by him in the course of his duties and upon compliance with the Company's procedures for submitting such expenses.