Exhibit 10.29
US HELICOPTER
XXXXXXX X. XXXXXXXX:
- EMPLOYMENT AGREEMENT - DATED AUGUST 24, 2004; EFFECTIVE SEPTEMBER 1,
2004 (START DATE).
- POSITION
- SENIOR VICE PRESIDENT and CHIEF OPERATING OFFICER
- RESPONSIBIITIES (Broad Overview)
- FLIGHT OPERATIONS
- MAINTENANCE
- OPERATIONS
- STATIONS
- SERVICES
- SALARY
- BASE SALARY $90,000 BASE PER ANNUM
- PRE-STARTUP WILL BE $72,000 PER ANNUM
- EFFECTIVE WITH STARTUP REVERT TO BASE SALARY OF $130,000
- CONTRACT
- TWO (2) YEARS
1
- STOCK PLAN
- SIGN ON INCENTIVE - 500,000 SHARES
- STOCK OPTIONS (AT PRE-ESTABLISHED VALUATION RATE) - 211,000 SHARES
- PARTICIPATION IN FUTURE STOCK PLANS ( TO BE ESTABLISHED BY THE COMPANY)
- INCENTIVE PLAN
- TO BE ESTABLISHED/FINALIZED
- BENEFITS
- TO BE ESTABLISHED/FINALIZED
- FORMAL AGREEMENT TO BE PREPARED BY G,B&B
AGREED TO:
/s/ Xxxxx Xxxxxx /s/ Xxxxxxx Xxxxxxxx
-------------------------------- --------------------------------
Xxxxx Xxxxxx Xxxxxxx Xxxxxxxx
Chief Executive Officer
US Helicopter
2
