Aluf Holdings Inc (AHIX)

[Slojab]

It must be nice to set your own salary.

Effective June 1, 2017, the Company renewed the employment agreement with our interim president/chief executive officer and chief financial officer for an additional two year period. The agreement calls for a minimum salary of $15,000 through July 31, 2017 with an increase, effective August 1, 2017, to $18,750 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, 2017, approximately $747,000 has been accrued as salaries, wages and benefits compensation payable.