Carnegie Development Inc. (CDJM)

[Milesblue42]

Gary F Kimmons REVENUE-LESS $728,351 Compensation

What Escue Energy told the United States Securities Exchange Commsission in July 2016

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11481614

Page 34

Elements of Compensation



On a forward-looking basis, our compensation program for the named executive officer, as well as other officers, will consist primarily of base salary. There are currently no retirement plan, long-term incentive plan or other such plans. We have not yet obtained a revenue stream with which to fund employee salaries and bonus plans. The base salary we provide is intended to equitably compensate the named executive officer based upon the level of responsibility, complexity and importance of role, leadership and growth potential, and experience.



Our Former CEO, Gary Kimmons, was employed under an Employment Agreement dated January 1, 2009, a copy of which is attached hereto as Exhibit 10.5. Compensation due him under the Employment Agreement for the period January 1, 2009 through January 1, 2012 was accrued in the total amount of $728,351 and paid in the form of shares of Common Stock on or about March 25, 2014. Certain of our current officers, including Sohail Quareshi, Madhu Sethi and Shahmir Quareshi are employed under Employment Agreements dated April 1, 2015, copies of which are attached hereto as Exhibits 10.1, 10.2 and 10.3, respectively. Reference is made to Exhibits 10.1, 10.2, 10.3 and 10.5 for a more detailed description of the terms of their employment.

Yet on page 31 Escue Energy told the United States Securities Exchange Commission the following...

For the fiscal year s ended December 31, 2015 and 2014.



Revenues



For the period from February 1988 (Inception) through December 31, 2015, we did not earn any revenues. We are still a development stage company and do not expect to begin generating revenues until we begin selling our products and services.