Salary Protection

Salary Protection. Ninety Thousand Dollars ($90,000), one-half (50%) of which is to be paid by the Company to Recipient upon the termination of the Recipient's employment with the Company following a Change of Control as a result of the Recipient and the Third Party successor owner's failure to enter into a written agreement satisfactory to Recipient, which is not substantially dissimilar to the title, position and salary with the Company enjoyed by the Recipient at the time of any such Change of Control,... otherwise in his sole and absolute discretion and election, within thirty (30) days following any such Change of Control and Recipient's resignation as 3 an employee of the Company as a result of the lack of such an agreement the balance of which amount shall be paid by the Company to the Recipient in twelve (12) equal monthly installments beginning on the fifteenth (15th) of the month following the month within which the initial (50%) payment is made in accordance with the within provisions ("Salary Protection"). View More