Common use of SALARY, BENEFITS AND EXPENSES Clause in Contracts

SALARY, BENEFITS AND EXPENSES. 4.1 The Company shall pay the Employee during the term of this Agreement a monthly salary of $14,166.66 (the "Salary"). Any salary or other compensation that the Employee receives from any other Group Company will, unless otherwise specifically agreed otherwise with the Employee at the time, be offset against the Salary receivable under this Agreement, thereby reducing the Salary payable under this Agreement by the net amount received from such other Group Company. 4.2 The Salary will: (a) accrue from day to day and be payable in equal semi-monthly installments in arrears, (b) be payable in lieu of any other fees or remuneration of any description which the Employee might be entitled to (or may in fact) receive from the Company or, any other Group Company or any other company or association in which the Employee holds office as a nominee or representative of the Company or any Group Company (and the Employee shall, at the discretion of the Board, either waive his right to any such fees or remuneration or deliver the same to the Company forthwith upon receipt); and (c) be paid by credit transfer to the account nominated by the Employee from time to time. 4.3 In addition to the Salary payable to the Employee, the Employee will be eligible for an annual bonus, based on the Company's group bonus plan, as it may exist or be amended from time to time. 4.4 All payments to the Employee hereunder shall be subject to deduction for withholding taxes or other items required to be deducted by an employer pursuant to the laws of the country of which the Employee is a citizen or resident and/or in which he is rendering services, as applicable. The Employee hereby consents to the making of all such deductions and agrees to repay to the Company and/or any other Group Company as applicable, promptly upon demand any amount which the Company or such other Group Company, as the case may be, failed for any reason whatsoever to deduct from any payment made to the Employee. 4.5 The Employee shall be promptly reimbursed for all necessary and reasonable business expenses he incurs in the performance of his duties hereunder, including, without limitation, all business travel-related expenses. 4.6 Any benefits which may from time to time be provided to the Employee or his family which are not expressly referred to in this Agreement shall be provided on a discretionary basis only and, unless specifically agreed in writing, shall not form part of the Employee's terms and conditions of employment, and may be changed or discontinued at any time. 4.7 The Company will pay or reimburse the Employee for (i) reasonable airfare costs between the Employee's home and New York for the commencement and the termination of the Appointment hereunder; (ii) reasonable costs of one trip to or from the Employee's home per month for either the Employee or his spouse (not to exceed the economy class airfare between New York and North Carolina); and (ii) temporary living expenses in New York of up to $2,000 per month each of which are to be approved in advance either by the Supervisor or the Director of Human Resources. The Company will gross up the Employee's Salary in an amount necessary to cover the Employee's local, state and federal taxes on imputed income resulting from the Employee's receiving the aforementioned housing allowance and airline tickets. In the event the Appointment is terminated by the Company for reasons other than those enumerated in Section 9 hereof, the Company shall pay to the lessor of the premises leased to the Employee in New York or directly to the Employee, at the option of the Company, remaining rent unpaid and due under such Employee's lease in the amount not to exceed $2,000 per month for a period from the Termination Date through January 31, 2003. The Employee will work with the Company's travel agent to obtain the lowest available airfare from the Employee's home to New York. Payment or reimbursement of these expenses will be subject to the Employee providing the Company with appropriate receipts or other evidence of payment.

SALARY, BENEFITS AND EXPENSES. 4.1 The Company shall pay the Employee during for the term proper performance of his duties under this Agreement a monthly salary of $14,166.66 25,000.00 ($300,000 on an annualized basis) (the "Salary"). Any salary or other compensation that the Employee receives from any other Group Company will, unless otherwise specifically agreed otherwise with the Employee at the time, be offset against the Salary receivable under this Agreement, thereby reducing the Salary payable under this Agreement by the net amount received from such other Group Company. 4.2 The Salary will: (a) accrue from day to day and be payable in equal semi-monthly installments in arrears, (b) be payable in lieu of any other fees or remuneration of any description which the Employee might be entitled to (or may in fact) receive from the Company or, any other Group Company or any other company or association in which the Employee holds office as a nominee or representative of the Company or any Group Company (and the Employee shall, at the discretion of the Board, either waive his right to any such fees or remuneration or deliver the same to the Company forthwith upon receipt); and; (c) be paid by credit transfer to the account nominated by the Employee from time to time; and (d) be subject to set-off by the Company from time to time in respect of any liability of the Employee to the Company or any other Group Company. 4.3 In addition to the Salary payable to the Employee, the Employee will be eligible for an annual bonus, based on the Company's group bonus plan, as it may exist or be amended from time to time. 4.4 All payments to the Employee hereunder shall be subject to deduction for withholding taxes or other items required to be deducted by an employer pursuant to the laws of the country of which the Employee is a citizen or resident and/or in which he is rendering services, as applicable. The Employee hereby consents to the making of all such deductions and agrees to repay to the Company and/or any other Group Company as applicable, promptly upon demand any amount which the Company or such other Group Company, as the case may be, failed for any reason whatsoever to deduct from any payment made to the Employee. 4.5 The Company will, as promptly as practicable, recommend to the Board of Directors of the Company that options giving the Employee shall the right to purchase an aggregate of 100,000 shares of the Company's Common Stock be promptly reimbursed for all necessary granted to you pursuant to the Company's stock option plan, a copy of which has been provided to the Employee. However, the Employee acknowledges that the Company cannot guarantee that the options will be granted. Furthermore, any grant is subject to such exercise prices and reasonable business expenses he incurs in vesting schedules as the performance of his duties hereunder, including, without limitation, all business travel-related expensesCompany board may set. 4.6 The Employee will also be eligible for the other benefits provided to employees of the Company who are based in the New York office, subject to the terms and conditions of any benefit plans, as described in more detail in the Company's Employee Handbook. 4.7 Any benefits which may from time to time be provided to the Employee or his family which are not expressly referred to in this Agreement shall be provided on a discretionary basis only and, unless specifically agreed in writing, shall not form part of the Employee's terms and conditions of employment, and may be changed or discontinued at any time. 4.7 The Company will pay or reimburse the Employee for (i) reasonable airfare costs between the Employee's home and New York for the commencement and the termination of the Appointment hereunder; (ii) reasonable costs of one trip to or from the Employee's home per month for either the Employee or his spouse (not to exceed the economy class airfare between New York and North Carolina); and (ii) temporary living expenses in New York of up to $2,000 per month each of which are to be approved in advance either by the Supervisor or the Director of Human Resources. The Company will gross up the Employee's Salary in an amount necessary to cover the Employee's local, state and federal taxes on imputed income resulting from the Employee's receiving the aforementioned housing allowance and airline tickets. In the event the Appointment is terminated by the Company for reasons other than those enumerated in Section 9 hereof, the Company shall pay to the lessor of the premises leased to the Employee in New York or directly to the Employee, at the option of the Company, remaining rent unpaid and due under such Employee's lease in the amount not to exceed $2,000 per month for a period from the Termination Date through January 31, 2003. The Employee will work with the Company's travel agent to obtain the lowest available airfare from the Employee's home to New York. Payment or reimbursement of these expenses will be subject to the Employee providing the Company with appropriate receipts or other evidence of payment.

SALARY, BENEFITS AND EXPENSES. 4.1 The Company shall pay 3.1. During the continuance of his employment, the Employee during will be entitled to a salary at the term rate of this Agreement a monthly salary f 167,000 per annum, which shall be inclusive of $14,166.66 (the "Salary"). Any salary any other sums receivable as director's fees or other compensation that remuneration payable to non-employee directors of the Company. The Employee receives from any shall be entitled to an annual bonus payment (which is targeted at pound sterling 83,000) in addition to his salary and other Group Company willbenefits, unless otherwise specifically agreed otherwise with the Employee at the time, actual bonus amount to be offset against the Salary receivable under this Agreement, thereby reducing the Salary payable under this Agreement based upon a review of performance by the net amount received from such other Group CompanyBoard following the conclusion of each year. 4.2 3.2. The Salary will: (a) Employee's salary will accrue from day to day and during the continuance of his employment, be payable in by equal semi-monthly installments on the last working day of each month in arrears, accordance with the Company's payroll practices in effect from time to time. The Employee shall be eligible to participate in the Company's annual profit sharing plan for key employees (b) be payable in lieu of any other fees or remuneration of any description which the Employee might be entitled to (or may in fact) receive from the Company or, any other Group Company or any other company or association in which the Employee holds office as a nominee or representative of the Company or any Group Company (and the Employee shallwhich, at the discretion of the Board, either waive his right to any such fees or remuneration or deliver the same to the Company forthwith upon receipt); and (c) be paid by credit transfer to the account nominated by the Employee from time to time. 4.3 In addition to the Salary payable to the Employee, the Employee will be eligible for an annual bonus, based on the Company's group bonus plan, as it may exist or be amended from time to time. 4.4 All payments to the Employee hereunder shall be subject to deduction for withholding taxes or other items required to be deducted by an employer pursuant to the laws of the country of which the Employee is a citizen or resident and/or in which he is rendering services, as applicable. The Employee hereby consents to the making of all such deductions and agrees to repay to the Company and/or any other Group Company as applicable, promptly upon demand any amount which the Company or such other Group Company, as the case may be, failed for any reason whatsoever in whole or in part, a profit sharing or incentive plan based upon the performance of GFI Caminus LLC, the parent entity of the Company ("PARENT"), and in each other benefit plan made generally available to deduct from any payment made officers and key employees of the Company, on terms and conditions no less favorable than those provided to officers of the Company at similar levels as Employee. 4.5 3.3. The Employee shall be promptly reimbursed for all reasonable and necessary and reasonable business expenses he incurs incurred by him in the performance of his duties hereunder. The Company shall reimburse him upon presentation to the Company of receipts and an itemized account of such expenses in accordance with the Company's reimbursement policy. At the reasonable discretion of Employee, including, without limitation, all Employee shall be entitled to fly business travel-related expensesclass in accordance with the policies of the Company. 4.6 Any benefits which 3.4. The Company shall not be liable to pay or provide any pension to or for the benefit of the Employee, except for the contribution by the Company into a personal pension plan in accordance with the Company's staff handbook, as the same may be reviewed from time to time be provided to the Employee or his family which are not expressly referred to in this Agreement shall be provided on a discretionary basis only and, unless specifically agreed in writing, shall not form part of the Employee's terms and conditions of employment, and may be changed or discontinued at any time. 4.7 . The Company will pay or reimburse the Employee for (i) reasonable airfare costs between the Employee's home telephone bills related to Company business and New York for Employee shall be entitled to participate in the commencement and the termination of the Appointment hereunder; (ii) reasonable costs of one trip to or from Company's permanent health insurance policy. 3.5. The Board shall review the Employee's home per month for either compensation not less frequently then every twelve (12) months. Following such review, the Employee or his spouse (not to exceed the economy class airfare between New York and North Carolina); and (ii) temporary living expenses Board may, in New York of up to $2,000 per month each of which are to be approved in advance either by the Supervisor or the Director of Human Resources. The Company will gross up its discretion, increase the Employee's Salary in an amount necessary to cover the Employee's localcompensation (including, state and federal taxes on imputed income resulting from the Employee's receiving the aforementioned housing allowance and airline tickets. In the event the Appointment is terminated by the Company for reasons other than those enumerated in Section 9 hereof, the Company shall pay to the lessor of the premises leased to the Employee in New York or directly to the Employee, at the option of the Company, remaining rent unpaid and due under such Employee's lease in the amount not to exceed $2,000 per month for a period from the Termination Date through January 31, 2003. The Employee will work with the Company's travel agent to obtain the lowest available airfare from the Employee's home to New York. Payment or reimbursement of these expenses will be subject to the Employee providing the Company with appropriate receipts or other evidence of payment.discretion of

SALARY, BENEFITS AND EXPENSES. 4.1 The Company shall pay 3.1. During the continuance of his employment, the Employee during will be entitled to a salary at the term rate of this Agreement a monthly salary Pound Sterling 200,000 per annum, which shall be inclusive of $14,166.66 (the "Salary"). Any salary any other sums receivable as director's fees or other compensation that remuneration payable to non-employee directors of the Company. The Employee receives from any shall be entitled to an annual bonus payment (which is targeted at Pound Sterling 100,000) in addition to his salary and other Group Company willbenefits, unless otherwise specifically agreed otherwise with the Employee at the time, actual bonus amount to be offset against the Salary receivable under this Agreement, thereby reducing the Salary payable under this Agreement based upon a review of performance by the net amount received from such other Group CompanyBoard following the conclusion of each year. 4.2 3.2. The Salary will: (a) Employee's salary will accrue from day to day and during the continuance of his employment, be payable in by equal semi-monthly installments on the last working day of each month in arrears, accordance with the Company's payroll practices in effect from time to time. The Employee shall be eligible to participate in the Company's annual profit sharing plan for key employees (b) be payable in lieu of any other fees or remuneration of any description which the Employee might be entitled to (or may in fact) receive from the Company or, any other Group Company or any other company or association in which the Employee holds office as a nominee or representative of the Company or any Group Company (and the Employee shallwhich, at the discretion of the Board, either waive his right to any such fees or remuneration or deliver the same to the Company forthwith upon receipt); and (c) be paid by credit transfer to the account nominated by the Employee from time to time. 4.3 In addition to the Salary payable to the Employee, the Employee will be eligible for an annual bonus, based on the Company's group bonus plan, as it may exist or be amended from time to time. 4.4 All payments to the Employee hereunder shall be subject to deduction for withholding taxes or other items required to be deducted by an employer pursuant to the laws of the country of which the Employee is a citizen or resident and/or in which he is rendering services, as applicable. The Employee hereby consents to the making of all such deductions and agrees to repay to the Company and/or any other Group Company as applicable, promptly upon demand any amount which the Company or such other Group Company, as the case may be, failed for any reason whatsoever in whole or in part, a profit sharing or incentive plan based upon the performance of GFI Caminus LLC, the parent entity of the Company ("PARENT"), and in each other benefit plan made generally available to deduct from any payment made officers and key employees of the Company, on terms and conditions no less favorable than those provided to officers of the Company at similar levels as Employee. 4.5 3.3. The Employee shall be promptly reimbursed for all reasonable and necessary and reasonable business expenses he incurs incurred by him in the performance of his duties hereunder. The Company shall reimburse him upon presentation to the Company of receipts and an itemized account of such expenses in accordance with the Company's reimbursement policy. At the reasonable discretion of Employee, including, without limitation, all Employee shall be entitled to fly business travel-related expensesclass in accordance with the policies of the Company. 4.6 Any benefits which 3.4. The Company shall not be liable to pay or provide any pension to or for the benefit of the Employee, except for the contribution by the Company into a personal pension plan in accordance with the Company's staff handbook, as the same may be reviewed from time to time be provided to the Employee or his family which are not expressly referred to in this Agreement shall be provided on a discretionary basis only and, unless specifically agreed in writing, shall not form part of the Employee's terms and conditions of employment, and may be changed or discontinued at any time. 4.7 . The Company will pay or reimburse the Employee for (i) reasonable airfare costs between the Employee's home telephone bills related to Company business and New York for Employee shall be entitled to participate in the commencement and the termination of the Appointment hereunder; (ii) reasonable costs of one trip to or from Company's permanent health insurance policy. 3.5. The Board shall review the Employee's home per month for either compensation not less frequently then every twelve (12) months. Following such review, the Employee or his spouse (not to exceed the economy class airfare between New York and North Carolina); and (ii) temporary living expenses Board may, in New York of up to $2,000 per month each of which are to be approved in advance either by the Supervisor or the Director of Human Resources. The Company will gross up its discretion, increase the Employee's Salary compensation (including, in an amount necessary to cover the discretion of the Board, the Employee's local, state salary and federal taxes on imputed income resulting from the Employee's receiving the aforementioned housing allowance and airline tickets. In the event the Appointment is terminated by the Company for reasons other than those enumerated in Section 9 hereof, the Company shall pay to the lessor of the premises leased to the Employee in New York or directly to the Employee, at the option of the Company, remaining rent unpaid and due under such Employee's lease in the amount not to exceed $2,000 per month for a period from the Termination Date through January 31, 2003. The Employee will work with the Company's travel agent to obtain the lowest available airfare from the Employee's home to New York. Payment or reimbursement of these expenses will be subject to the Employee providing the Company with appropriate receipts or other evidence of paymentbonus).