Saleen is paying him in shares .
Pursuant to the Employment Agreement, Mr. Balingit is employed on at-will basis by the Company and entitled to an annual base salary of $225,000. The Employment Agreement also provides for a performance bonus of up to $125,000 to be paid on or after May 15, 2020 based on performance goals to be mutually established by the Company and Mr. Balingit, and the award of an aggregate of 492,000 shares of common stock to be issued over a three-year period after the commencement of public trading of the Company’s common stock.
