Document gE3v3Qe9d1r5kVvvYw825L2qa

Company home - PhEbMO ABEX CORP hEW Hhng Date / /. /Wrt employment under this Agreement (the "Term") shall commence on September 1, 1996 and shall end on December 31, 1999 or such later date to which the Term is extended pursuant to Section 2 2 22 Ena-of-Term Provisions At any time or or after December 31, 1998 the Company snail nave tne right to Give wrirter notice of non-renewal of the Term. In the event the Company gives sucn rotice of non-renewai, the Term automatically shall be extenaed so that it ends twelve montns after the last day of the month m which the Company gives such notice From and after January 1, 2000, unless and until the Ccm.Dany gives written notice of non-renewal as proviaed in this Section 2 2, the Term automatically shall be extenaed day-by-day, upon the giving of such notice tne Company, the Term automatically shall be extended so that it enas twelve months after the last day of the month in which the Company gives such notice. 23 Special Curtailment The Term shall end earlier than the original December 31, 1999 termination date provided in Section 2 1 or any extended termination date provided in Section 2 2, m either case if sooner terminated pursuant to Section 4 Non-extension of the Term shall not be deemed to be a wrongful termination of the Term or this Agreement by the Company pursuant to Section 4.4 3. Compensation; Benefits 31 Salary As compensation for all ser vices to be rendered pursuant to this Agreement, the Company agrees to pay the Executive during the Term a base salary, payable semi-monthly m arrears, at the annual rate of not less than $158,900, less such deductions or amounts to be withheld as required by applicable law and regulations (the "Base Salary") In the event that the Company, m its sole discretion, from time to time deter 2 mines to increase the Base Salary, such increased amount shall, from and after the effective date of the increase, constitute "Base Salary" for purposes of this Agreement. 32 Bonus In addition to the amounts to be paid to the Executive pursuant to Section 3.1, the Executive will be eligible to receive a bonus with respect to each calendar year included within the Term computed m accordance with the provisions of the next two succeeding sentences If, with respect to any calendar year, the Company achieves EBITDA of at least the percentage set forth in the table below of its business plan for such year, such bonus shall be the percentage set forth in the table below of Base Salary with respect to the year for which the bonus (any such bonus, a "performance bonus") was earned Percentage of EBITDA in Business Plan Percentage of Base Salary 80% 85 90 95 100 60% 75 90 100 105 Disclosure Page 43