Common use of Salary and Additional Benefits Clause in Contracts

Salary and Additional Benefits. 3.1 Employer shall pay to Employee and Employee agrees to accept as compensation for her services to be rendered hereunder, an initial base salary of One Hundred Fifty Thousand Dollars ($150,000.00) (“Base Salary”) per year for the period commencing with the Commencement Date and ending on the completion of the Contract Term, payable in equal installments on the 15th and last day of each month or, if not a business day, the next preceding day which is a business day. 3.2 During the term of this Agreement, Employee, as Vice President, shall be entitled to receive an annual year-end bonus in cash in an amount determined by the Board of Directors. At the time the Board of Directors considers the Employee’s bonus but not less than annually, the Board of Directors shall also consider an award to the employee of stock or options to acquire stock under any stock award plan then in effect. 3.3 Employee shall be entitled to vacations, at such times as Employee shall reasonably determine, of at least four weeks each year of employment hereunder. 3.4 In addition to the foregoing, Employee shall also(i) participate in and be entitled to receive medical insurance and other benefits substantially equivalent to the normal benefits provided by BIODEL to its employees generally and (ii) participate in various retirement, welfare, fringe benefit and executive perquisite plans, programs and arrangements of the Company to the extent the senior executives of the Company generally are eligible for participation under the terms of such plans, programs and arrangements including, without limitation, plans, programs and arrangements for the granting of options to purchase securities of the Company or other equity based compensation. Employee acknowledges the right of Employer to change, amend, or terminate any of the benefits referred to in this paragraph, at any time in a manner which does not discriminate between Employee and other company employees who are eligible to participate in such benefits. 3.5 Employer shall reimburse Employee for any ordinary, necessary and reasonable travel, maintenance and entertainment expenses incurred by the Employee in the course of her duties under this Agreement, in accordance with the Employer’s customary policies and practices in effect from time to time, upon submission to the Employer of appropriate vouchers and receipts evidencing the same.

Salary and Additional Benefits. 3.1 Employer shall pay to Employee and Employee agrees to accept as compensation for her his services to be rendered hereunder, an initial base salary of One Two Hundred and Fifty Thousand Dollars ($150,000.00250,000) (“Base Salary”) per year for the period commencing with the Commencement Date and ending on the completion of the Contract Term, payable in equal installments on the 15th and last day of each month ormonth. In the event the Board of Directors shall by resolution increase the base salary, if not a business day, then this agreement shall be deemed so amended as of the next preceding day which is a business dayeffective date of such resolution or such other date specified in such resolution. 3.2 During the term of this Agreement, Employee, as Vice PresidentPresident and CEO, shall be entitled to receive an annual year-end bonus in cash in an amount of not more than sixty percent (60%) of Base Salary as determined by the Board of Directors. At the time the Board of Directors considers the Employee’s bonus but not less than annually, the Board of Directors shall also consider an award to the employee of stock or options to acquire stock under any stock award plan then in effect. 3.3 Employee shall be entitled to vacations, at such times as Employee shall reasonably determine, of at least four weeks each year of employment hereunder. 3.4 In addition to the foregoing, Employee shall also(i) participate in and be entitled to receive medical insurance and other benefits substantially equivalent to the normal benefits provided by BIODEL to its employees generally and (ii) participate in various retirement, welfare, fringe benefit and executive perquisite plans, programs and arrangements of the Company to the extent the senior executives of the Company generally are eligible for participation under the terms of such plans, programs and arrangements including, without limitation, plans, programs and arrangements for the granting of options to purchase securities of the Company or other equity based compensation. Employee acknowledges the right of Employer to change, amend, or terminate any of the benefits referred to in this paragraph, at any time in a manner which does not discriminate between Employee and other company employees who are eligible to participate in such benefits. 3.5 Employer shall reimburse Employee for any ordinary, necessary and reasonable travel, maintenance and entertainment expenses incurred by the Employee in the course of her his duties under this Agreement, in accordance with the Employer’s customary policies and practices in effect from time to time, upon submission to the Employer of appropriate vouchers and receipts evidencing the same. 3.6 The Company shall pay a mandatory bonus of $250,000 (payable to Sxxxxxx Ventures) upon (a) stockholders equity of the Company exceeding $20mm, (b) if any class of securities of the Company are registered under the Securities Act of 1933, (b) the Company enters into stategic partnership with an initial advance, payment or investment of $5 mm, or (d) five years from the date of execution. Such bonus shall be paid in any event, including, without limitation, whether or not the employeed is then employed by the Company and whether or not the employee is then deceased.

Salary and Additional Benefits. 3.1 Employer shall pay to Employee and Employee agrees to accept as compensation for her his services to be rendered hereunder, an initial base salary of One Hundred Fifty and Ninety-Five Thousand Dollars ($150,000.00195,000) (“Base Salary”) per year for the period commencing with the Commencement Date and ending on the completion of the Contract Term, payable in equal installments on the 15th and last day of each month ormonth. In the event the Board of Directors shall by resolution increase the base salary, if not a business day, then this agreement shall be deemed so amended as of the next preceding day which is a business dayeffective date of such resolution or such other date specified in such resolution. 3.2 During the term of this Agreement, Employee, as Vice PresidentTreasurer and CFO, shall be entitled to receive an annual year-end bonus in cash in an amount of not more than sixty percent (60%) of Base Salary as determined by the Board of Directors. At the time the Board of Directors considers the Employee’s bonus but not less than annually, the Board of Directors shall also consider an award to the employee of stock or options to acquire stock under any stock award plan then in effect. Employee shall receive an initial award of 200,000 shares of Common Stock of the Company at an option price of $4.00 per shares vesting pro rata over 4 years. 3.3 Employee shall be entitled to vacations, at such times as Employee shall reasonably determine, of at least four weeks each year of employment hereunder. 3.4 In addition to the foregoing, Employee shall also(i) participate in and be entitled to receive medical insurance and other benefits substantially equivalent to the normal benefits provided by BIODEL to its employees generally and (ii) participate in various retirement, welfare, fringe benefit and executive perquisite plans, programs and arrangements of the Company to the extent the senior executives of the Company generally are eligible for participation under the terms of such plans, programs and arrangements including, without limitation, plans, programs and arrangements for the granting of options to purchase securities of the Company or other equity based compensation. Employee acknowledges the right of Employer to change, amend, or terminate any of the benefits referred to in this paragraph, at any time in a manner which does not discriminate between Employee and other company employees who are eligible to participate in such benefits. 3.5 Employer shall reimburse Employee for any ordinary, necessary and reasonable travel, maintenance and entertainment expenses incurred by the Employee in the course of her his duties under this Agreement, in accordance with the Employer’s customary policies and practices in effect from time to time, upon submission to the Employer of appropriate vouchers and receipts evidencing the same.

Salary and Additional Benefits. 3.1 Employer shall pay to Employee and Employee agrees to accept as compensation for her his services to be rendered hereunder, an initial base salary of One Three Hundred Fifty and Seventy-Five Thousand Dollars ($150,000.00375,000) (“Base Salary”) per year for the period commencing with the Commencement Date and ending on the completion of the Contract Term, payable in equal installments on the 15th and last day of each month ormonth. In the event the Board of Directors shall by resolution increase the base salary, if not a business day, then this agreement shall be deemed so amended as of the next preceding day which is a business dayeffective date of such resolution or such other date specified in such resolution. 3.2 During the term of this Agreement, Employee, as Vice PresidentPresident and CEO, shall be entitled to receive an annual year-end bonus in cash in an amount of not more than fifty percent (50%) of Base Salary as determined by the Board of Directors. At the time the Board of Directors considers the Employee’s bonus but not less than annually, the Board of Directors shall also consider an award to the employee of stock or options to acquire stock under any stock award plan then in effect. 3.3 Employee shall be entitled to vacations, at such times as Employee shall reasonably determine, of at least four weeks each year of employment hereunder. 3.4 In addition to the foregoing, Employee shall also(i) participate in and be entitled to receive medical insurance and other benefits substantially equivalent to the normal benefits provided by BIODEL to its employees generally and (ii) participate in various retirement, welfare, fringe benefit and executive perquisite plans, programs and arrangements of the Company to the extent the senior executives of the Company generally are eligible for participation under the terms of such plans, programs and arrangements including, without limitation, plans, programs and arrangements for the granting of options to purchase securities of the Company or other equity based compensation. Employee acknowledges the right of Employer to change, amend, or terminate any of the benefits referred to in this paragraph, at any time in a manner which does not discriminate between Employee and other company employees who are eligible to participate in such benefits. 3.5 Employer shall reimburse Employee for any ordinary, necessary and reasonable travel, maintenance and entertainment expenses incurred by the Employee in the course of her his duties under this Agreement, in accordance with the Employer’s customary policies and practices in effect from time to time, upon submission to the Employer of appropriate vouchers and receipts evidencing the same. 3.6 The Company shall pay a mandatory bonus of $250,000 (payable to Sxxxxxx Ventures) upon (a) stockholders equity of the Company exceeding $20mm, (b) if any class of securities of the Company are registered under the Securities Act of 1933, (b) the Company enters into stategic partnership with an initial advance, payment or investment of $5 mm, or (d) five years from the date of execution. Such bonus shall be paid in any event, including, without limitation, whether or not the employeed is then employed by the Company and whether or not the employee is then deceased.

Salary and Additional Benefits. 3.1 Employer shall pay to Employee and Employee agrees to accept as compensation for her services to be rendered hereunder, an initial base salary of One Hundred Fifty Thousand Dollars ($150,000.00) (“Base Salary”) per year for the period commencing with the Commencement Date and ending on the completion of the Contract Term, payable in equal installments on the 15th and last day of each month or, if not a business day, the next preceding day which is a business day. 3.2 During the term of this Agreement, Employee, as Vice President, shall be entitled to receive an annual year-end bonus in cash in an amount determined by the Board of Directors. Such bonus shall be paid no later than March 15 of the calendar year next following the calendar year for which the bonus is paid. At the time the Board of Directors considers the Employee’s bonus but not less than annually, the Board of Directors shall also consider an award to the employee of stock or options to acquire stock under any stock award plan then in effect. 3.3 Employee shall be entitled to vacations, at such times as Employee shall reasonably determine, of at least four weeks each year of employment hereunder. 3.4 In addition to the foregoing, Employee shall also(i) participate in and be entitled to receive medical insurance and other benefits substantially equivalent to the normal benefits provided by BIODEL to its employees generally and (ii) participate in various retirement, welfare, fringe benefit and executive perquisite plans, programs and arrangements of the Company to the extent the senior executives of the Company generally are eligible for participation under the terms of such plans, programs and arrangements including, without limitation, plans, programs and arrangements for the granting of options to purchase securities of the Company or other equity based compensation. Employee acknowledges the right of Employer to change, amend, or terminate any of the benefits referred to in this paragraph, at any time in a manner which does not discriminate between Employee and other company employees who are eligible to participate in such benefits. 3.5 Employer shall reimburse Employee for any ordinary, necessary and reasonable travel, maintenance and entertainment expenses incurred by the Employee in the course of her duties under this Agreement, in accordance with the Employer’s customary policies and practices in effect from time to time, upon submission to the Employer of appropriate vouchers and receipts evidencing the same.

Salary and Additional Benefits. 3.1 Employer shall pay to Employee and Employee agrees to accept as compensation for her his services to be rendered hereunder, an initial base salary of One Three Hundred Fifty and Seventy-Five Thousand Dollars ($150,000.00375,000) (“Base Salary”) per year for the period commencing with the Commencement Date and ending on the completion of the Contract Term, payable in equal installments on the 15th and last day of each month ormonth. In the event the Board of Directors shall by resolution increase the base salary, if not a business day, then this agreement shall be deemed so amended as of the next preceding day which is a business dayeffective date of such resolution or such other date specified in such resolution. 3.2 During the term of this Agreement, Employee, as Vice PresidentPresident and CEO, shall be entitled to receive an annual year-end bonus in cash in an amount of not more than fifty percent (50%) of Base Salary as determined by the Board of Directors. Such bonus shall be paid no later than March 15 of the calendar year next following the calendar year for which the bonus is paid. At the time the Board of Directors considers the Employee’s bonus but not less than annually, the Board of Directors shall also consider an award to the employee of stock or options to acquire stock under any stock award plan then in effect. 3.3 Employee shall be entitled to vacations, at such times as Employee shall reasonably determine, of at least four weeks each year of employment hereunder. 3.4 In addition to the foregoing, Employee shall also(i) participate in and be entitled to receive medical insurance and other benefits substantially equivalent to the normal benefits provided by BIODEL to its employees generally and (ii) participate in various retirement, welfare, fringe benefit and executive perquisite plans, programs and arrangements of the Company to the extent the senior executives of the Company generally are eligible for participation under the terms of such plans, programs and arrangements including, without limitation, plans, programs and arrangements for the granting of options to purchase securities of the Company or other equity based compensation. Employee acknowledges the right of Employer to change, amend, or terminate any of the benefits referred to in this paragraph, at any time in a manner which does not discriminate between Employee and other company employees who are eligible to participate in such benefits. 3.5 Employer shall reimburse Employee for any ordinary, necessary and reasonable travel, maintenance and entertainment expenses incurred by the Employee in the course of her his duties under this Agreement, in accordance with the Employer’s customary policies and practices in effect from time to time, upon submission to the Employer of appropriate vouchers and receipts evidencing the same. 3.6 The Company shall pay a mandatory bonus of $250,000 (payable to Xxxxxxx Ventures) upon (a) stockholders equity of the Company exceeding $20mm, (b) if any class of securities of the Company are registered under the Securities Act of 1933, (b) the Company enters into stategic partnership with an initial advance, payment or investment of $5 mm, or (d) five years from the date of execution. Such bonus shall be paid in any event, including, without limitation, whether or not the employeed is then employed by the Company and whether or not the employee is then deceased.

Salary and Additional Benefits. 3.1 Employer shall pay to Employee and Employee agrees to accept as compensation for her his services to be rendered hereunder, an initial base salary of One Hundred Fifty and Ninety-Five Thousand Dollars ($150,000.00195,000) (“Base Salary”) per year for the period commencing with the Commencement Date and ending on the completion of the Contract Term, payable in equal installments on the 15th and last day of each month or, if not a business day, the next preceding day which is a business daymonth. 3.2 During the term of this Agreement, Employee, as Vice PresidentTreasurer and CFO, shall be entitled to receive an annual year-end bonus in cash in an amount of not more than sixty percent (60%) of Base Salary as determined by the Board of Directors. At the time the Board of Directors considers the Employee’s bonus but not less than annually, the Board of Directors shall also consider an award to the employee of stock or options to acquire stock under any stock award plan then in effect. Employee shall receive an initial award of 200,000 shares of Common Stock of the Company at an option price of $4.00 per shares vesting pro rata over 4 years. 3.3 Employee shall be entitled to vacations, at such times as Employee shall reasonably determine, of at least four weeks each year of employment hereunder. 3.4 In addition to the foregoing, Employee shall also(i) participate in and be entitled to receive medical insurance and other benefits substantially equivalent to the normal benefits provided by BIODEL to its employees generally and (ii) participate in various retirement, welfare, fringe benefit and executive perquisite plans, programs and arrangements of the Company to the extent the senior executives of the Company generally are eligible for participation under the terms of such plans, programs and arrangements including, without limitation, plans, programs and arrangements for the granting of options to purchase securities of the Company or other equity based compensation. Employee acknowledges the right of Employer to change, amend, or terminate any of the benefits referred to in this paragraph, at any time in a manner which does not discriminate between Employee and other company employees who are eligible to participate in such benefits. 3.5 Employer shall reimburse Employee for any ordinary, necessary and reasonable travel, maintenance and entertainment expenses incurred by the Employee in the course of her his duties under this Agreement, in accordance with the Employer’s customary policies and practices in effect from time to time, upon submission to the Employer of appropriate vouchers and receipts evidencing the same.