Common use of Compensation and Withholding Clause in Contracts

Compensation and Withholding. For his services pursuant to this Agreement, VEMICS will pay Employee an interim salary at the annual rate of $86,400. VEMICS will pay the Salary semimonthly (as calculated by dividing the gross salary by 26 equal payments) and may withhold from the Salary, the Benefits and any other compensation provided to Employee hereunder, all Federal, state and local income, employment and other taxes, as and in such amounts as may be required to be withheld under applicable law. Employee's salary will immediately be increased to $155,000 ("Salary") for the first year either upon improved financial condition or full funding or of the VEMICS business plan (minimum of $3,000,000 in equity or debt financing or sales). Partial funding will result in proportionate salary increases to be determined by the compensation committee or through approval of the "Use of Proceeds" report submitted to investors. In the second year of this contract, following either improved financial condition or full funding of the business plan, Employee's salary shall be increased to $190,000 annually. The Salary may be increased and cash or stock bonuses may be awarded from time-to-time to Employee as the Board determines at its sole discretion. .

Compensation and Withholding. For his services pursuant to this Agreement, VEMICS will pay Employee an interim salary at the annual rate of $86,400. VEMICS will pay the Salary semimonthly (as calculated by dividing the gross salary by 26 equal payments) and may withhold from the Salary, the Benefits and any other compensation provided to Employee hereunder, all Federal, state and local income, employment and other taxes, as and in such amounts as may be required to be withheld under applicable law. Employee's salary will immediately be increased to $155,000 120,000 ("Salary") for the first year either upon improved financial condition or full funding or of the VEMICS business plan (minimum of $3,000,000 in equity or debt financing or sales). Partial funding will result in proportionate salary increases to be determined by the compensation committee or through approval of the "Use of Proceeds" report submitted to investors. In the second year of this contract, contract following either improved financial condition or full funding of the business plan, plan Employee's salary shall be increased to $190,000 140,000 annually. The Salary may be increased and cash or stock bonuses may be awarded from time-to-time to Employee as the Board determines at its sole discretion. .

Compensation and Withholding. For his services pursuant to this Agreement, VEMICS will pay Employee an interim salary at the annual rate of $86,400. VEMICS will pay the Salary Salary. semimonthly (as calculated by dividing the gross salary by 26 equal payments) and may withhold from the Salary, the Benefits and any other compensation provided to Employee hereunder, all Federal, state and local income, employment and other taxes, as and in such amounts as may be required to be withheld under applicable law. Employee's salary will immediately be increased to $155,000 135,000 ("Salary") for the first year either upon improved financial condition or full funding or of the VEMICS business plan (minimum of $3,000,000 in equity or debt financing or sales). Partial funding will result in proportionate salary increases to be determined by the compensation committee or through approval of the "Use of Proceeds" report submitted to investors. In the second year of this contract, contract following either improved financial condition or full funding of the business plan, plan Employee's salary shall be increased to $190,000 170,000 annually. The Salary may be increased and cash or stock bonuses may be awarded from time-to-time to Employee as the Board determines at its sole discretion. .