Employment Agreement with Xxxxxx X. Xxxxxxx We entered into an employment agreement with Xxxxxx X. Xxxxxxx, our Chief Information Officer, effective February 1, 2017. Under the employment agreement, Xx. Xxxxxxx will receive a base salary of $250,000 per annum. The employment agreement also provides that Xx. Xxxxxxx will be eligible for an annual performance bonus, with an annual target bonus amount equal to not less than 50% of his base salary, and annual equity awards with a targeted grant date value of $125,000, on substantially the same basis as long-term incentive awards granted to other senior executives. Xx. Xxxxxxx’x employment may be terminated, with or without cause, by the Company. If the Company terminates Xx. Xxxxxxx’x employment for cause (as described below) or on account of death or disability, or if Xx. Xxxxxxx terminates his own employment for any reason other than for good reason (as described below), Xx. Xxxxxxx is generally entitled to no further compensation or benefits other than those earned through the date of termination. If we terminate Xx. Xxxxxxx’x employment for any reason other than for cause, death or disability, or if Xx. Xxxxxxx terminates his own employment for good reason, we will pay any outstanding accrued obligations, continue to pay his base salary for six months following termination and, if the qualifying termination occurs within 90 days before or 24 months after a change in control, Xx. Xxxxxxx will receive immediate vesting of all outstanding equity-
Employment Agreement with Xxxxxx X. Xxxxxx, President and Chief Executive Officer 10.5 9 Employment Agreement with Xxxxx X. Xxxxxxxx, Executive Vice President and Managing Director of Machine Control Products 10.6 17 Employment Agreement with Xxxxxxx X. Xxxxxxx, Vice President of Software Development 10.7 25 Employment Agreement with Xxxxxx X. Xxxxxxxx, Vice President and Chief Technical Officer 10.8 33 Employment Agreement with Xxxxx X. Xxxxxx, Vice President of Finance, Chief Financial Officer, Treasurer and Secretary ---------------------------- * Incorporated by reference Exhibit 10.4 (Employment Agreement for Xxxxxx X. Xxxxxx) CIMETRIX INCORPORATED EMPLOYMENT AGREEMENT THIS EMPLOYMENT AGREEMENT (the "Agreement") is made and entered into this ___ day of November, 2001, by and between CIMETRIX INCORPORATED, a Nevada corporation (the "Company") and XXXXXX X. XXXXXX (the "Executive"), to become effective as of October 1, 2001 (the "Effective Date").
Employment Agreement with Xxxxxx X. Xxxxx (filed as Exhibit 10.31 to Saba's annual report on Form 10-KSB for the year ended December 31, 1996 (File No. 001-13880) and incorporated herein by reference) 10.10....First
