Common use of Deferred Salary Clause in Contracts

Deferred Salary. Until such time that the Company has consistent revenues or has sufficient funding to carry on it operations, the Executive’s Base Salary, or that portion of it that the Executive and the Board reasonably determine, shall be deferred, but shall continue to accrue on the books of the Company. Terms for repayment of the Executive’s deferred salary shall be reasonably agreed to by the Board and the Executive when the Company has available funds.

Deferred Salary. Until the later to occur of November 11, 2009 or such time that the Company has consistent revenues or has sufficient funding to carry on it operations, the Executive’s Base Salary, or that portion of it that the Executive and the Board reasonably determine, Salary shall be deferred, but shall continue to accrue on the books of the Company. Terms for repayment of the Executive’s deferred salary shall be reasonably agreed to by the Board and the Executive when the Company has available funds.