12 months salary if change of controlPursuant to the Hunton Employment Agreement, Mr. Hunton is currently entitled to: (i) a base salary in USD which is reviewed annually by the CGN Committee and the Board; (ii) participation in the Company’s stock option plan (as defined below); (iii) participation in the Company’s annual executive performance cash bonus plan, as may be amended from time to time, which has the potential to pay up to 50% of his annual base salary, subject to the achievement of certain quantitative and qualitative objectives that are mutually agreed with the Board on an annual basis; (iv) in the event of termination without cause, receive a lump sum payment equal to twelve months of base salary and variable compensation; (v) receive twelve months of his base salary and variable compensation upon termination, or occurrence of other events as described in the Hunton Employment Agreement, within a 30 day period of an occurrence of a Change of Control (as defined in the Hunton Employment Agreement); (vi) participation in the Company’s executive benefits plan; and (vii) reimbursement of his reasonable expenses in connection with the business of the Company.
Pursuant to the Lee Employment Agreement, Mr. Lee was entitled to: (i) a base salary which was reviewed annually by the CEO and CGN Committee; (ii) participation in the Company’s stock option plan; (iii) participation in the Company’s annual executive performance cash bonus plan, as may be amended from time to time, which had the potential to pay up to 50% of his annual base salary, subject to the achievement of certain quantitative and qualitative objectives that were mutually agreed with the CEO and the Board on an annual basis; (iv) in the event of termination without cause, receive a lump sum payment equal to six months of base salary and variable compensation; (v) receive six months of his base salary upon termination, or occurrence of other events as described in the Lee Employment Agreement, within a 12-month period of an occurrence of a Change of Control (as defined in the Lee Employment Agreement); (vi) participation in the Company’s executive benefits plan; (vii) reimbursement of his reasonable expenses in connection with the business of the Company; and (viii) reimbursement of professional development fees.
Pursuant to the Rydstrom Employment Agreement, Mr. Rydstrom was entitled to: (i) a base salary in USD which is reviewed annually by the CEO and CGN Committee; (ii) participation in the Company’s stock option plan; (iii) a sales incentive program paid out each quarter and subject to the achievement of certain quantitative and qualitative objectives that are mutually agreed with the CEO and the Board on an annual basis; (iv) in the event of termination without cause, receive a lump sum payment equal to six months of base salary and variable compensation; (v) receive six months of his base salary and variable compensation upon termination, or occurrence of other events as described in the Rydstrom Employment Agreement, within a 12-month period of an occurrence of a Change of Control (as defined in the Rydstrom Employment Agreement); (vi) participation in the Company’s executive benefits plan; (vii) reimbursement of his reasonable expenses in connection with the business of the Company; and (viii) reimbursement of professional development fees.
Pursuant to the Akram Employment Agreement, Mr. Akram was entitled to: (i) a base salary in USD which is reviewed annually by the CEO and CGN Committee; (ii) participation in the Company’s stock option plan; (iii) participation in the Company’s annual executive cash bonus plan, as may be amended from time to time, which has the potential to pay up to 30% of his annual base salary, subject to the achievement of certain quantitative and qualitative objectives that are mutually agreed with the CEO and the Board on an annual basis; (iv) in the event of termination without cause, receive a lump sum payment equal to six months of base salary and variable compensation; (v) receive six months of his base salary upon termination, or occurrence of other events as described in the Akram Employment Agreement, within a 6-month period of an occurrence of a Change of Control (as defined in the Akram Employment Agreement); (vi) participation in the Company’s executive benefits plan; and (vii) reimbursement of his reasonable expenses in connection with the business of the Company.
Pursuant to the McIntosh Employment Agreement, Ms. McIntosh is currently entitled to: (i) a base salary which is reviewed annually by the CEO and CGN Committee; (ii) participation in the Company’s stock option plan; (iii) participation in the Company’s annual executive cash bonus plan, as may be amended from time to time, which has the potential to pay up to 30% of her annual base salary, subject to the achievement of certain quantitative and qualitative objectives that are mutually agreed with the CEO and the Board on an annual basis; (iv) in the event of termination without cause, receive a lump sum payment equal to six months of base salary and variable compensation; (v) receive six months of base salary upon termination, or occurrence of other events as described in the McIntosh Employment Agreement, within a 6-month period of an occurrence of a Change of Control (as defined in the McIntosh Employment Agreement); (iv) participation in the Company’s executive benefits plan; and (v) reimbursement of his reasonable expenses in connection with the business of the Company.