Company: ECIA
Filing Date: 2025-07-14
Form Type: DEF 14A
Source: 0001079973-25-001145
Chunk: 19

Company: ENCISION INC
Filing Date: 2025-07-14
Form: DEF 14A
Chunk 19
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2025. Net Loss decreased
from fiscal period ending March 31, 2024 to fiscal period ending March 31, 2025. However, compensation is not directly tied to Net Income
or Loss within our compensation program.

Employment Agreement

On November 14, 2016, we
entered into an Employment Agreement (the "Employment Agreement") with Greg Trudel, our President and Chief Executive Officer.

The Employment Agreement
has an initial two-year term. Thereafter, the term automatically renews for additional one-year periods unless either party gives prior
written notice that it does not wish to automatically renew the term. The Employment Agreement provided that Mr. Trudel will receive an
annual base salary of $214,725 ("Base Salary"). The Base Salary would increase to $230,000 after we achieved three months of
profitability. The table above reflects annual salary increases.

Mr. Trudel will be eligible
to participate in our bonus programs for executive and non-executive officers, as determined in the discretion of our board of directors.
In addition, Mr. Trudel will be eligible for a bonus from an annual bonus pool. The amount of the annual bonus pool for the 2025 fiscal
year shall be determined as follows:

| Revenue Growth from prior year      |     | 12.5% | 15% | 25%   | 35%   | >50%  |
| Bonus % on Revenue Growth Amount    |     | 0%    | 10% | 12.5% | 12.5% | 12.5% |
| Net Income Growth from prior year   |     | 12.5% | 15% | 25%   | 33%   | >100% |
| Bonus % on Net Income Growth Amount |     | 0%    | 15% | 17.5% | 20%   | 20%   |

The bonus amount will be
limited to 15% of the first $500,000 of net income plus 17.5% on any excess of $500,000 of net income. Net income will mean pre-tax, pre-bonus
GAAP income in each fiscal year compared to the preceding fiscal year. When comparing a fiscal year over a prior fiscal year, losses in
any fiscal year will be not considered for the bonus computation. As determined by the Board of Directors or the Compensation Committee
of the Board of Directors,