Initial Base Salary and Employee Benefits Sample Clauses

Initial Base Salary and Employee Benefits a) Commencing upon the date hereof Employee shall receive a gross salary in the sum of $225,000 per annum (the “Base Salary”), payable weekly, subject to deductions for withholding taxes and/or other appropriate deductions as provided by applicable federal, state and local law, which salary shall include 15 paid working days for either vacation, sick days or personal days, over and above all legal holidays recognized by Employer as non-working days for all of its employees, salary is to accrue if not paid in full and carry a 15% per annum interest on unpaid salary, plus b) Employee to receive a brand development fee of $500,000.00. Payable within 30 days of written request by employee to company. Fee to be paid out of company funds derived from sales, proceeds of any type be it investment or any credit lines available to the company. c) Employer will pay the cost of the prevailing medical and dental insurance program for himself and his family, upon the same terms offered to its employees of equal status and grade, if any, which amount may be paid directly to employee if he maintains separate insurance coverage; plus, dental coverage d) Employee shall receive a $1200 per month car payment allowance, $100 per month gas allowance, cell phone expenses ($400 monthly); expenses may be charged on employees personal credit card or that of the company, the credit or debit card bank statements will suffice as receipts of all expenses; plus e) Employer will reimburse Employee for his accountable direct expenses in connection with the performance of his duties hereunder including, but not limited to, unlimited travel and hotel for all business-related travel, entertainment, meals, gas etc. Employee shall provide receipts and other documentation of his expenses as may reasonably be requested by Employer, according to its established policy for all other employees receiving reimbursement of expenses. Any single expense item in excess of $1000 shall be approved by Employer in writing prior to being incurred, unless such pre-approval and payment is unreasonable under the circumstances

Initial Base Salary and Employee Benefits a) Commencing upon the date hereof Employee shall receive 333,333 common shares of SBSI. and a gross salary in the sum of $75,000 per annum (the “Base Salary”), payable biweekly, subject to deductions for withholding taxes and/or other appropriate deductions as provided by applicable federal, state and local law, which salary shall includes 10 paid working days for either vacation, sick days or personal days, over and above all legal holidays recognized by Employer as non-working days for all of its employees; , plus b) Employer will pay the cost of the prevailing medical insurance program for himself and his family, upon the same terms offered to its employees of equal status and grade, if any, which amount may be paid directly to employee if he maintains separate insurance coverage; plus c) Employer will reimburse Employee for his accountable direct expenses in connection with the performance of his duties hereunder including, but not limited to, reasonable travel and hotel for all business related travel. Employee shall provide receipts and other documentation of his expenses as may reasonably be requested by Employer, according to its established policy for all other employees receiving reimbursement of expenses. Any single expense item in excess of $500 shall be approved by Employer in writing prior to being incurred, unless such pre-approval and payment is unreasonable under the circumstances.