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Employment
Contract
Commercial
Mutual Insurance Company (“employer” or
“Company”)
And Barry B.
Goldstein (“employee”)
Assumptions:
1.
Mr. Goldstein
will be permitted to continue his employment as Chairman and CEO of
DCAP Group, Inc.
2.
Mr. Goldstein
will retain the title of Chairman of the Board. The
employee’s title as Chairman of The Board of the Company
beyond the next annual meeting of the Board of Director’s of
the Company is subject to the approval by the Board of such title
at such Next Annual Board meeting. The employee’s
service as a director of the Company is subject to the right of the
policyholders to elect and remove directors pursuant to applicable
law and the Company’s bylaws.
3.
The employer
requires additional services from Mr. Goldstein, beyond his current
service as its Chairman. The employee will spend
approximately 750 hours per year on matters concerning
CMIC.
4.
The employee
will devote his time on behalf of the employer to:
a.
Planning and
executing the Company’s growth plan along with the
Company’s CEO. The employee will be charged with
setting, along with the CEO, of the company’s strategic goals
and defining the
