RE: RE: RE: Victor2009, Nash's Departure From LBEV
Doingthejob
You stated : " BTW, Randy Miller's conservative approach certainly has outlived Dr. Gary Nash, "
Is this an example of Mr Millers conservatism, or is it his secret for longevity?
As of the date of this Information Circular, the Corporation has entered into a consulting agreement with ADREA
Capital Corp., a private British Columbia company owned and/ or controlled by Mr. Miller. In the event that the
consulting agreement is terminated due to the death, retirement of disability of Mr. Miller, the agreement provides
for the lump sum payment of an amount equal to two (2)times the annual salary and two (2) times the average
annual bonus paid to ADREA Capital Corp. In the event that the agreement is terminated for any other reason or not
for just cause or in the event Mr. Miller resigns for "Good Reason", as such term is defined therein, Mr. Miller will
be entitled to a payment that, in the aggregate,equals the annual salary at time of termination and an amount equal
to the greater of:(i) six (6) times the annual salary; and (ii) an amount equal to the result obtained when the annual
salary is multiplied by a fraction, the numerator of which is the number of days between the date of termination and
Mr. Miller's retirement date and the denominator of which is 365. In addition, the Corporation is required to
purchase from Mr. Miller, at the fair market value , all shares, rights, options or warrants to acquire shares of the
Corporation owned by Mr. Miller and shall pay him three (3) times the difference between the exercise price and the
fair market value of all rights, options or warrants to acquire shares subject to issuance pursuant to any options or
warrants held by Mr.Miller. "