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Friday, November 17, 2017 5:59:01 PM
Employment Agreement with Adam E. Levin. The Company entered into an employment agreement with Adam E. Levin, effective as of July 17, 2017 and expiring December 31, 2020, under which he shall serve as Chairman and Chief Executive officer of the Company and the other members of the Target Companies. Under the terms of the agreement, Mr. Levin receives a base salary of $500,000 per annum and an annual bonus of $500,000 payable following the end of each of the three calendar years commencing with the year ending December 31, 2018 in the event that either (i) the consolidated revenues of the Target Companies exceeds 120% of the consolidated revenues for the immediately proceeding year, or (ii) the closing price of the Company common stock as traded on any securities exchange at the end of any of the three calendar years exceeds 120% of the closing price of such common stock at the end of the prior calendar year. The employment agreement a contains change of control provision, severance payments upon termination without cause, and permits Mr. Levin to work from his office in Puerto Rico..
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If to the Company, to:
High Times Media Corporation
5520 Wilshire Boulevard
Los Angeles, CA 90036
Attn: Chief Financial Officer
If to the Consultant, to:
Oreva Capital Corp.
PMB 140
422 Carr 693 Ste 1
Dorado, Puerto Rico 00646-4817
Tel: (310) 774-0100
Attn.: Adam E. Levin, President and CEO
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