Sure hope a guaranteed package of $1 million dollars in the first year will help our new CEO right this sinking ship we are on. Does anyone find it odd that appears he will not be moving to MN?
"On April 8, 2015, the Company executed an Employment Agreement with Mr. Leonard (the “Employment Agreement”) Mr. Leonard’s employment will commence on April 13, 2015. During the term, the Company will pay Mr. Leonard a base salary at an annual rate of $650,000, and he will be entitled to such increases (but not decreases) in base salary, if any, as may be determined from time to time in the sole discretion of the Board. With respect to each calendar year during the term, Mr. Leonard will be eligible to earn an annual cash bonus award of 100% of his base salary (“Target Bonus Opportunity”), based upon his achievements and the Company’s achievement of annual performance targets established by the Board. The annual bonus for calendar year 2015 is guaranteed to be at least 80% of the Target Bonus Opportunity. The Company has agreed to reimburse Mr. Leonard for expenses related to travel from his home in Encinitas, California to Minneapolis, MN and to reimburse him for all reasonable relocation expenses should Mr. Leonard elect to relocate his primary residence to the Minneapolis metropolitan area.
"On April 8, 2015, the Company executed an Employment Agreement with Mr. Leonard (the “Employment Agreement”) Mr. Leonard’s employment will commence on April 13, 2015. During the term, the Company will pay Mr. Leonard a base salary at an annual rate of $650,000, and he will be entitled to such increases (but not decreases) in base salary, if any, as may be determined from time to time in the sole discretion of the Board. With respect to each calendar year during the term, Mr. Leonard will be eligible to earn an annual cash bonus award of 100% of his base salary (“Target Bonus Opportunity”), based upon his achievements and the Company’s achievement of annual performance targets established by the Board. The annual bonus for calendar year 2015 is guaranteed to be at least 80% of the Target Bonus Opportunity. The Company has agreed to reimburse Mr. Leonard for expenses related to travel from his home in Encinitas, California to Minneapolis, MN and to reimburse him for all reasonable relocation expenses should Mr. Leonard elect to relocate his primary residence to the Minneapolis metropolitan area.
New CEO
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