AGREEMENT BETWEEN HARTMAN SHORT TERM INCOME PROPERTIES XX INC.
AGREEMENT BETWEEN XXXXXXX SHORT TERM INCOME PROPERTIES XX INC.
(“XXXXXXX XX”) AND XX XXXXXXX
The purpose of this AGREEMENT is to memorialize an arrangement going forward between XXXXXXX XX and its former CEO Xx Xxxxxxx (the “Agreement”).
DUTIES
Going forward it is agreed that Xx Xxxxxxx will no longer serve as CEO of XXXXXXX XX. Such duties of the CEO will be assigned to another designee of the XXXXXXX XX Board.
Xx Xxxxxxx shall continue with XXXXXXX XX as an Executive Member of the Board and its Executive Chairman. Xx Xxxxxxx’x duties shall include all duties established in the Xxxxxxx XX By-Laws including presiding over Board meetings of the XXXXXXX XX Board and whatever additional tasks specifically assigned to him by the Board. He shall have no day-to-day management responsibilities with Xxxxxxx XX. If the CEO seeks his advice, he may freely share such, but the CEO will be under no duty to follow such advice.
In the case of a conflict between the duties of CEO and Executive Chairman the work shall be assigned to CEO or as otherwise determined by the Board.
TERM
The term of this Agreement shall begin July 1, 2022, and shall be for two years unless terminated early after the first year by either party for violation of this Agreement.
COMPENSATION
For his services, Xx Xxxxxxx shall be paid $36,000.00 per month, according to normal payroll procedures, taxes being withheld as required. He will receive normal employee benefits including health insurance as available to all employees. All payments will begin to be paid following the full execution of this Agreement. Xx Xxxxxxx hereby releases Xxxxxxx from any compensation related claims.
AGREED:
XX XXXXXXX
/s Xx Xxxxxxx
_________________________
Xx Xxxxxxx, Individually
and
XXXXXXX SHORT INCOME PROPERTIES XX, INC.
BY:_/s Xxxxxx Xxxxxxx____________ BY:_/s Xxxx Xxxxxxxx_________
Xxxxxx X. Xxxxxxx, Xxxx Xxxxxxxx,
Chairman of the Nominating & Governance Nominating & Governance
Committee the Board Committee of the Board
