Common use of Salary; Additional Compensation; Perquisites and Benefits Clause in Contracts

Salary; Additional Compensation; Perquisites and Benefits. (a) During the Term, the Law 89 Subsidiary will pay you a gross base salary at an annual rate of not less than €60,000 ("Base Salary"), subject to annual review by the Board of Directors of the Company, or an appropriate committee thereof for increase, but not decrease. After any such increase, the term "Base Salary" as utilized in this Agreement shall thereafter refer to the increased amount. Such Base Salary shall be paid in 12 monthly installments and will receive any adjustments in accordance with the Greek legislation. The Company shall also cover all social security contributions, state pension and professional association fees and contributions in addition to the normal withholding tax and other contributions. (b) During the Term, you will be eligible to participate in all benefit programs as are from time to time made generally available to other senior executives of the Nautilus Group on a basis no less favorable than provided any other senior executive of the Company. (c) The Law 89 Subsidiary will reimburse you, in accordance with its standard policies from time to time in effect, for such reasonable and necessary out-of-pocket business expenses as may be incurred by you during the Term in the performance of your duties and responsibilities for any member of the Nautilus Group. You will provide documentation of such expenses as reasonably required under standard Company policies from time to time. The Company will also reimburse you for the legal fees and other expenses incurred by you relating to the negotiation and drafting of this Agreement and related agreements, up to a maximum of Euro 5,000. (d) You shall be entitled to a vacation period to be credited and taken in accordance with the Nautilus Group’s policy, from time to time in effect, of four weeks per annum. (e) You should be eligible to receive stock option and other equity grants from time to time pursuant to the Company’s First Equity Incentive Plan, as it may be amended from time to time, or any successor stock incentive plan in accordance with the terms and conditions thereof on a basis no less favorable than provided any other senior executive of the Company.

Salary; Additional Compensation; Perquisites and Benefits. (a) During the Termyour term of employment, the Law 89 Subsidiary Company will pay you a gross base salary at an annual rate of not less than €60,000 Two Hundred and Fifty Thousand Dollars ("Base Salary"$250,000), subject to annual review by the Board of Directors of the Company, or an appropriate committee thereof for increaseand, but not decrease. After any in the discretion of such increasecommittee, the term "Base Salary" as utilized in this Agreement shall thereafter refer increase from time to the increased amounttime. Such Base Salary salary shall be paid in 12 monthly installments and will receive any adjustments in accordance with the Greek legislation. The Company shall also cover all social security contributionsCompany's standard practice, state pension and professional association fees and contributions in addition to the normal withholding tax and other contributionsbut not less frequently than monthly. (b) For fiscal year 2001 and thereafter for each fiscal year throughout your term of employment, you will be eligible to earn a bonus as determined by the Board of Directors or an appropriate committee thereof based upon actual performance as measured against goals set by the Board or such committee. You will be entitled to participate in the Company's incentive bonus program for senior executives with a target bonus for Fiscal Year 2001 of 35% of your base salary. The terms and conditions of this bonus opportunity will be in the discretion of the Board of Directors or a committee thereof. (c) During the Termyour term of employment, you will be eligible to participate in all benefit programs as are from time to time made generally available to other senior executives of the Nautilus Group on a basis no less favorable than provided any other senior executive of the CompanyGenMar Group. (cd) The Law 89 Subsidiary Company will reimburse you, in accordance with its standard policies from time to time in effect, for such reasonable and necessary out-of-pocket business expenses as may be incurred by you during the Term your term of employment in the performance of your duties and responsibilities for any member of the Nautilus Groupunder this Agreement. You will provide documentation of such expenses as reasonably required under standard Company policies from time to time. The Company will also reimburse you for the legal fees and other expenses incurred by you relating to the negotiation and drafting of this Agreement and related agreements, up to a maximum of Euro 5,000. (de) You shall be entitled to a vacation period to be credited and taken in accordance with the Nautilus Group’s policy, GenMar Group policy from time to time in effect, of four weeks per annum. (ef) You should shall be eligible to receive stock option and other equity grants from time to time pursuant to the Company’s First Equity 's 2001 Stock Incentive Plan, as it may be amended from time to time, or any successor stock incentive plan Plan in accordance with the terms and conditions thereof on a basis no less favorable than provided thereof. (g) In addition to any other senior executive compensation that you are entitled to under this Agreement, following the Closing Date, the Company will pay you a one-time special bonus of the CompanyFifty Thousand Dollars ($50,000).

Salary; Additional Compensation; Perquisites and Benefits. (a) During the Term, the Law 89 Company and the Subsidiary will pay you the Executive a gross base salary at an annual rate of not less than €60,000 ("Base Salary")$155,000 per annum, subject to annual review by the Compensation Committee of the Board of Directors of the CompanyCompany (the "Compensation Committee") and in the discretion of such Committee, or an appropriate committee thereof for increaseincreased from time to time. Once increased, but such base salary may not decrease. After any such increase, the term "Base Salary" as utilized in this Agreement shall thereafter refer to the increased amountbe decreased. Such Base Salary salary shall be paid in 12 monthly period installments and will receive any adjustments in accordance with the Greek legislation. The Company shall also cover all social security contributionsCompany's standard practice, state pension and professional association fees and contributions in addition to the normal withholding tax and other contributionsbut not less frequently than semi-monthly. (b) During For each fiscal year during the Term, you the Executive will be eligible to participate in all benefit programs receive a bonus. The award and amount of such bonus shall be based upon the Compensation Committee's determination of actual performance as are from time measured against goals and shall give the Executive the opportunity to time made generally available earn a bonus of up to other senior executives 100% of the Nautilus Group on a basis no less favorable than provided any other senior executive of the Companyhis base salary. (c) The Law 89 Subsidiary During the Term, the Executive will reimburse you, participate in accordance with its standard policies from time to time in effect, all plans now existing or hereafter adopted by the Company for such reasonable and necessary out-of-pocket business expenses as may be incurred by you during the Term in management employees or the performance of your duties and responsibilities for any member general benefit of the Nautilus Group. You will provide documentation of their employees, such expenses as reasonably required under standard Company policies from time to time. The Company will also reimburse you for bonuses, stock option or other incentive compensation plans, life and health insurance plans, or other insurance plans and benefits on the legal fees same basis and other expenses incurred by you relating subject to the negotiation same qualifications as other senior executive officers. To the extent permitted by law, the Executive shall be given credit for his years of service to any predecessor entity of the Company in determining all waiting periods and drafting of this Agreement and related agreements, up to a maximum of Euro 5,000vesting periods under such plans. (d) You The Executive shall be entitled to a vacation period to be credited and taken in accordance with the Nautilus Group’s policy, from time to time in effect, of four weeks per annum. (e) You should be eligible to receive for stock option and other equity grants from time to time pursuant to the Company’s First Equity 's 1998 Stock Incentive Plan, as it may be amended from time to time, or any successor stock incentive plan Plan in accordance with the terms and conditions thereof thereof. The Company shall recommend to the Committee designated in accordance with such plan that the Company grant to the Executive, effective on a basis no less favorable than provided any other senior executive the initial public offering of Company shares, options to purchase 90,000 shares of the Companycommon stock of the Company at an exercise price equal to the initial public offering price of such stock (the "Option Price"). Subject to the terms of Section 6(f) of this Agreement as to the acceleration of vesting of stock options, such options shall vest on the earlier of the following calendar or value-appreciation schedules: i) Calendar Schedule: Four Years after the grant date, options are fully vested as to 50% of the applicable shares; Five Years after the grant date, options are fully vested for the remaining 50% of the shares.

Salary; Additional Compensation; Perquisites and Benefits. (a) During the Term, the Law 89 Subsidiary Company and the LLC will pay you the Executive a gross base salary at an aggregate annual rate of not less than €60,000 ("Base Salary")$120,000 per annum, subject to annual review by the Board of Directors Compensation Committee of the CompanyBoard (the "Compensation Committee"), or an appropriate committee thereof for increaseand in the discretion of such Committee, but increased from time to time. Once increased, such base salary may not decrease. After any such increase, the term "Base Salary" as utilized in this Agreement shall thereafter refer to the increased amountbe decreased. Such Base Salary salary shall be paid in 12 monthly periodic installments and will receive any adjustments in accordance with the Greek legislation. The Company shall also cover all social security contributionsCompany's standard practice, state pension and professional association fees and contributions in addition to the normal withholding tax and other contributionsbut not less frequently than semi-monthly. (b) During For each fiscal year during the Term, you the Executive will be eligible to participate in all benefit programs as are receive a bonus from time to time made generally available to other senior executives of the Nautilus Group on a basis no less favorable than provided any other senior executive of the Company. The award and amount of such bonus shall be based upon the achievement of predefined operating or performance goals and other criteria established by the Compensation Committee, which goals shall give the Executive the opportunity to earn a bonus in the following amounts: threshold target -25% of base salary; target - 100% of base salary; and maximum bonus amount - 125 % of base salary. (c) During the Term, the Executive will participate in all plans now existing or hereafter adopted by the Company or the LLC for their management employees or the general benefit of their employees, such as any pension, profit-sharing, bonuses, stock option or other incentive compensation plans, life and health insurance plans, or other insurance plans and benefits on the same basis and subject to the same qualifications as other senior executive officers. (d) The Law 89 Subsidiary Executive shall be eligible for stock option grants from time to time pursuant to the Company's Incentive Plan in accordance with the terms thereof. (e) The Company and the LLC will reimburse youthe Executive, in accordance with its their standard policies from time to time in effect, for such reasonable and necessary all out-of-pocket business expenses as may be incurred by you during the Term Executive in the performance of your his duties and responsibilities for any member of the Nautilus Group. You will provide documentation of such expenses as reasonably required under standard Company policies from time to time. The Company will also reimburse you for the legal fees and other expenses incurred by you relating to the negotiation and drafting of this Agreement and related agreements, up to a maximum of Euro 5,000Agreement. (df) You The Executive shall be entitled to a vacation period time to be credited and taken in accordance with the Nautilus Group’s policy, Company's policy from time to time in effecteffect for senior executives, which in any event shall not be less than a total of four weeks per annumcalendar year. (eg) You should To the fullest extent permitted by applicable law, the Executive shall be eligible to receive stock option indemnified and held harmless by the Company and the LLC against any and all judgments, penalties, fines, amounts paid in settlement, and other equity grants from time reasonable expenses (including, without limitation, reasonable attorneys' fees and disbursements) actually incurred by the Executive in connection with any threatened, pending or completed action, suit or proceeding (whether civil, criminal, administrative, investigative or other) for any action or omission in his capacity as a director, officer or employee of the Company or the LLC. Indemnification under this Section 3(g) shall be in addition to, and not in substitution of, any other indemnification by the Company or the LLC of its officers and directors. Expenses incurred by the Executive in defending an action, suit or proceeding for which he claims the right to time be indemnified pursuant to this Section 3(g) shall be paid by the Company or the LLC, as the case may be, in advance of the final disposition of such action suit or proceeding upon the Company’s First Equity Incentive Plan's or the LLC's receipt of (x) a written affirmation by the Executive of his good faith belief that the standard of conduct necessary for his indemnification hereunder and under the provisions of applicable law has been met and (y) a written undertaking by or on behalf of the Executive to repay the amount advanced if it shall ultimately be determined by a court that the Executive engaged in conduct which precludes indemnification under the provisions of such applicable law. Such written undertaking in clause (y) shall be accepted by the Company or the LLC, as it the case may be amended from time be, without security therefor and without reference to time, or any successor stock incentive plan in accordance with the terms and conditions thereof on a basis no less favorable than provided any other senior executive financial ability of the CompanyExecutive to make repayment thereunder. The Company and the LLC shall use commercially reasonable efforts to maintain in effect for the Term of this Agreement a directors' and officers' liability insurance policy, with a policy limit of at least $5,000,000, subject to customary exclusions, with respect to claims made against officers and directors of the Company or the LLC; provided, however, the Company -------- ------- or the LLC, as the case may be, shall be relieved of this obligation to maintain directors' and officers' liability insurance if, in the good faith judgment of the Company or the LLC, it cannot be obtained at a reasonable cost.

Salary; Additional Compensation; Perquisites and Benefits. (a) During the Term, the Law 89 Company and the Subsidiary will pay you the Executive a gross base salary at an annual rate of not less than €60,000 ("Base Salary")$390,000 per annum, subject to annual review by the Compensation Committee of the Board of Directors of the CompanyCompany (the “Compensation Committee”) and in the discretion of such Committee, or an appropriate committee thereof for increaseincreased from time to time. Once increased, but such base salary may not decrease. After any such increase, the term "Base Salary" as utilized in this Agreement shall thereafter refer to the increased amountbe decreased. Such Base Salary salary shall be paid in 12 monthly periodic installments and will receive any adjustments in accordance with the Greek legislation. The Company shall also cover all social security contributionsCompany’s standard practice, state pension and professional association fees and contributions in addition to the normal withholding tax and other contributionsbut not less frequently than semi-monthly. (b) During For each fiscal year during the Term, you the Executive will be eligible to participate in all benefit programs receive a bonus on such terms as are may from time to time made generally available to other senior executives of be established by the Nautilus Group on a basis no less favorable than provided any other senior executive of the CompanyCompensation Committee. (c) During the Term, the Executive will participate in all plans now existing or hereafter adopted by the Company for the management employees or the general benefit of the their employees, such as stock option or other incentive compensation plans, life and health insurance plans, or other insurance plans and benefits on the same basis and subject to the same qualifications as other senior executive officers. To the extent permitted by law, the Executive shall be given credit for his years of service to any predecessor entity of the Company in determining all waiting periods and vesting periods under such plans. (d) The Law 89 Subsidiary Company will reimburse youthe Executive, in accordance with its standard policies from time to time in effect, for such reasonable and necessary all out-of-pocket business expenses as may be incurred by you during the Term Executive in the performance of your his duties and responsibilities for any member of the Nautilus Group. You will provide documentation of such expenses as reasonably required under standard Company policies from time to time. The Company will also reimburse you for the legal fees and other expenses incurred by you relating to the negotiation and drafting of this Agreement and related agreements, up to a maximum of Euro 5,000Agreement. (de) You The Executive shall be entitled to a vacation period time to be credited and taken in accordance with the Nautilus GroupCompany’s policy, policy from time to time in effecteffect for senior executives, which in any event shall not be less than a total of four weeks per annumcalendar year. (ef) You should be eligible to receive stock option and other equity grants from time to time pursuant The Company shall indemnify the Executive to the Company’s First Equity Incentive Plan, as it may be amended from time to time, or any successor stock incentive plan in accordance with fullest extent permitted under the terms and conditions thereof on a basis no less favorable than provided any other senior executive law of the CompanyState of Washington.