DEFERRED COMPENSATION AGREEMENT
This Agreement confirms the previously agreed to terms concerning deferred
compensation between Trilogy International, Inc. ("Company") and Xxxxxxx Xxxxxxx
("Employee").
Whereas, Employee was hired on December 1, 1998 at an annual salary of
$100,000.00 and
Whereas, Employee agreed to defer payment of 25% of his salary for the period
from May 1, 1999 through December, 1999, and not demand payment of said deferred
salary until such time as the Company has been profitable for two consecutive
months and then to accept payment of the accrued salary due at that time in 4
monthly installments pari pasu with all other employees of the Company that have
made like concessions,
The Company, therefore, has agreed to issue to Employee 3,000 Shares of Trilogy
International Common Stock and to accrue interest on said deferred salary at an
annual rate of 12% from September 1, 1999 until paid as consideration for the
above salary concessions made by Employee.
AGREED______________________ DATE_____________________________
Xxxxx Xxxxxxx, President
For: Trilogy International, Inc.
("Company")
AGREED_______________________ DATE _____________________________
Xxxxxxx Xxxxxxx
DEFERRED COMPENSATION AGREEMENT
This Agreement confirms the previously agreed to terms concerning deferred
compensation between Trilogy International, Inc. ("Company") and Xxxxxxx Xxxxxxx
("Employee").
Whereas, Employee relocated from New Jersey and worked with the Company from May
1998 through November, 1998 for nominal consideration, and
Whereas, Employee was formally hired on December 1, 1998 at an annual salary of
$100,000.00 and
Whereas, Employee agreed to defer payment of 100% of his salary for the period
from December 1, 1998 through March 31, 1999, and not demand payment of said
deferred salary until such time as the Company has been profitable for two
consecutive months and then to accept payment of the accrued salary due at that
time in 4 monthly installments pari pasu with all other employees of the Company
that have made like concessions,
The Company, therefore, has agreed to issue to Employee 50,000 Options to
purchase Trilogy International Common Stock @ $.25 per share as consideration
for the above salary concessions made by Employee.
AGREED______________________ DATE_____________________________
Xxxxx Xxxxxxx, President
For: Trilogy International, Inc.
("Company")
AGREED_______________________ DATE _____________________________
Xxxxxxx Xxxxxxx
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