2. Makeup bonus. The Executive receives additional bonuses as follows – $1,225,000, payable on July 1, 2004, $1,225,000, payable on January 1, 2005, and $1,225,000 payable on July 1, 2005. In the event that the board of directors is terminated by the company without cause, by the executive for good reason or by death or disability, an unpaid balance is paid to management. In addition to the aforementioned bonus or limited action, management, on the recommendation of the Chief Executive Officer and subject to the agreement of the Board of Directors, will receive an additional capital bonus of $2 million on August 18, 2004 (the first anniversary of employment). The premium is valid for a period of three years. 4. Liability insurance. The company will also compensate the Board of Directors if it is returned by AT-T or a related company of AT-T because of its legally authorized employment, or if it threatens to become a party, and it will also be fully compensated for all benefits that AT-T has lost as a result of this activity. The Executive believes that it is satisfied in good faith that its two-year competitive contract with AT-T has expired and that even if it had not expired, it would be unenforceable. 3. Limited stocks. Following the bankruptcy of the company, management is entitled to receive an initial capital bonus of $5 million at the time of the company`s creation.
The value of the limited stock is determined by Lazard LLC, the company`s financial advisor (the financial advisor), and, without obvious error, the determination of the value of these securities by the financial advisors is mandatory for the company and management. All of these limited shares must be transferred over a period of three years from the date of issuance. After unlocking the number of shares needed to cover taxes due on sale, 75 per cent of the remaining shares will be released before the 6th. With prior agreement from the company and management, premiums can take the form of limited deferred share units rather than limited shares. 1. Signing bonus. The Executive received a signing bonus of $1,700,000, which was paid on September 10, 2003. The signing bonus is subject to a reasonable recovery (based on the number of full civilian months of service divided by 28 calendar months) if management does not complete the original commitment for another reason, which is then terminated by management without cause, for good reason or by death or disability; However, provided that the entire signing bonus is repaid within ten days in case of termination by the executives by the company for good reason. In the event of a contradiction between the terms of this Schedule 1 (the conditions) and the provisions of the agreement attached to this Schedule 1 (the provisions), the rights of executives or the obligations of the company are determined by the conditions or provisions that would be more favourable to the executive. (3) Point VII is added after point VI and reads: 2. Point IV of the employment contract is deleted as follows: The parties agree that the original text of point I of the original employment contract would go here and that all the words you wished to delete would be barred.