Aluf Holdings Inc (AHIX)

[tmcwilliams]

On May 31, 2011, the Company entered into an employment agreement with our chief financial officer for a period of two years. This agreement is renewable unless either party terminates in accordance with the provisions of the Agreement, or by death or permanent disability. . .

Effective June 1, 2015, the Company renewed the employment agreement with our chief financial officer for an additional two year period. The agreement calls for a minimum salary of $15,000 per month plus additional cash and stock compensation. All other terms of the renewal agreement remain the same as the original agreement. The Company has not made certain cash payments due under these agreements. As of June 30, 2015, $300,835, has been accrued as compensation payable and deferred salary.