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EXECUTIVE EMPLOYMENT
AGREEMENT
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EXECUTIVE
EMPLOYMENT AGREEMENT (this "Agreement") is effective as of 1
st day of January, 2007, between Mendocino Brewing
Company, Inc., 1601, Airport Road, Ukiah, CA 95482 ("Company") and
Mr.Yashpal Singh ("Executive")
WHEREAS, Executive possesses professional
qualifications, experience and detailed knowledge of the company's
business; and
WHEREAS, company recognizes Executive's
importance to the growth and success of Company and desires to
assure Executives contributions and to compensate him in a manner
which it has determined will reinforce and encourage his continued
attention and dedication; and
WHEREAS Company is desirous of extending the
employment agreement entered as of May 1, 1999 with the Executive;
and
WHEREAS Executive is desirous of committing
himself to continue to serve Company on the terms herein provided;
and
NOW, THEREFORE, in consideration of forgoing and
of the respective covenants and agreements of the parties herein
contained, the parties hereto hereby agree as follows:
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Company hereby
continues to employ Executive for the further period commencing on
January 1, 2007 for a period of four years, unless such employment
is sooner terminated as provided in this Agreement.
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Executive
hereby accepts employment under this Agreement and agrees to devote
all his best efforts and his full time and attention exclusively to
the business and affairs of Company. During the term of this
Agreement, Executive shall report to, and shall perform such duties
and responsibilities as may be assigned to him by the Board of
Directors of the Company (“Board”) or such other person
as the Board or Chairman may designate. Company shall retain full
direction and control of the manner, means and methods by which
Executive performs the services for which he is employed hereunder
and of the places at which such services shall be
rendered.
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Executive shall
observe and comply with Company's rules and regulations.
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2)
DESIGNATION AND COMPENSATION
a) Designation
and Base Salary
The Board in
their meeting held on January 14, 2005 unanimously passed a
resolution designating the Executive as President and Chief
Executive Officer. The base salary of the Executive shall be at the
annual rate of $189,000 with effect from January 1, 2007.The salary
is payable in accordance with the Company's standard payoff
practices as in effect from time to time, prorated in any partial
year of employment.
Executive shall
be entitled for an annual salary increase, based on a review of
performance and such increases will be determined by the Board of
Directors of the company in its sole discretion.
Executive shall
be entitled to reimbursement for reasonable travel and other
business expenses incurred in the performance of his duties under
this Agreement in accordance with the general policy of Company, as
it may change from time to time, provided the Executive provides an
itemized account together with supporting receipts for such
expenditures i
