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EMPLOYMENT AGREEMENT AMENDMENT

Employment Agreement Amendment

EMPLOYMENT AGREEMENT AMENDMENT | Document Parties: MEDCLEAN TECHNOLOGIES, INC. You are currently viewing:
This Employment Agreement Amendment involves

MEDCLEAN TECHNOLOGIES, INC.

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Title: EMPLOYMENT AGREEMENT AMENDMENT
Date: 5/5/2009
Industry: Waste Management Services     Sector: Services

EMPLOYMENT AGREEMENT AMENDMENT, Parties: medclean technologies  inc.
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Exhibit 10.01

EMPLOYMENT AGREEMENT AMENDMENT

 

     THIS EMPLOYMENT AGREEMENT AMENDMENT (the "Amendment") is made as of this 1st day of May, 2009 between MedClean Technologies, Inc. (formerly Aduromed Corporation, the “Company“) and Scott Grisanti (the "Executive" or "Employee"), an individual residing at 1554 Anderson Ave Unit E, Fort Lee, NJ 07024-2716 .

 

WITNESSETH THAT:

 

     WHEREAS, the Employee and the Company have entered into that certain Employment Agreement, dated September 2, 2008 (the “Agreement”); and

 

     WHEREAS, the Company and the Employee now wish to make certain modifications to such Agreement;

 

     NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, the Company and the Employee hereby agree as follows:

 

1.   Section 4.

 

     Section 4   of the Agreement is hereby amended to read, in its entirety, as follows:

 

“(a) Base Salary. For the period from May 1, 2009 through December 31, 2009 the Employee shall be paid a base salary of $50,000, payable in the months of September, October, November and December 2009 in accordance with normal Company payroll practices. For all other purposes of this Agreement “Base Salary” shall be deemed to mean an annual salary of $300,000.

 

     (b) Performance Bonus. The Employee shall be entitled to annual cash

bonus ( the "Bonus") based upon the Company’s attainment of reasonable financial objectives to be determined annually by the Board. The maximum annual Bonus shall not exceed sixty percent (60%) of the applicable year's ending Base Salary and shall be payable only in the event the Board determines, in its sole and exclusive discretion, that the particular year's financial and set objectives have been met. The timing for payment of any such Bonus shall be in accordance with the Company’s bonus plan, if any shall have been established by the Board, but in any event not later than seventy-five (75) days following the close of the particular fiscal year.

 

     (c) Withholding. All compensation payable to the Empl


 
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