SEC Contract Filing

Filing Date: 2015-02-25

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exh_101.htm
<DESCRIPTION>EXHIBIT 10.1
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EX-10.1 2 &#8211; Employment Agreement Exhibit</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">February 20, 2015</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Bob Frye, CPA</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Dear Bob,</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On behalf of ACSH, I am pleased to present this offer of employment as Controller, reporting directly to the Anthony Levinson, CFO.&#160;&#160;This is a full-time exempt position, and you will be compensated with an annual salary of $130,000 less applicable legal deductions, payable in accordance with the regular payroll practices of the Company. Thereafter, annual performance and compensation reviews will take place in accordance with Company policy.&#160;&#160;This offer is contingent upon successful results of your pre-employment drug screening and satisfactory reference check and background investigation. Your first day of employment will be by mutual agreement between you and Anthony Levinson.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As a full-time employee, you are eligible to participate in the Company&#8217;s benefits program as described in the new employee package.&#160;&#160;You will also earn paid time off (PTO) as described in the employee handbook.&#160;&#160;Further, you shall be entitled to such 401K plan and other retirement plan participation as are made available to the Company&#8217;s personnel generally, as in effect by the Company from time to time. You will additionally, be provided a transportation allowance of $45 per month to offset your parking and/or commuting transportation expenses and $125 per month as a cellular telephone allowance.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As Controller, you will be recommended to participate in the Company&#8217;s Stock Option Plan (the &#8220;Stock Option Plan&#8221;) in the amount equal to 8,500 shares (the &#8220;Option Shares&#8221;) of common stock, one cent par value, of the Company (the &#8220;Common Stock&#8221;).&#160;&#160;The Company may grant to you from time to time additional Option Shares at a stated exercise price per share which will vest in equal annual installments over a period of five years, with the first 20% of such options to vest on the anniversary of the Commencement Date unless otherwise specified in the applicable option grant agreement.&#160;&#160;Your participation in the Stock Option Plan and level of award is subject to approval by the Company&#8217;s Board of Directors or committee thereof.&#160;&#160;Additionally, you will be considered for participation in the Company&#8217;s bonus compensation plan as in effect from time to time.&#160;&#160;The actual amount of bonus award shall be determined by the Company&#8217;s Board of Directors or committee thereof and will be based upon the Board&#8217;s discretion and assessment of your performance, and that of the Company, against goals established annually by the Chairman.&#160;&#160;Any bonus or incentive compensation paid to you shall be in addition to your annual base salary and will be subject to any applicable legal deductions in accordance with regular practices of the Company.</font></div>

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