$MSTO CEO Josh Compensation and Benefit Package (Summarized). CEO Josh has written his own payroll and compensation benefit package without oversight. These are the highlights taken from various published documents.
Summary:
2,000,000,000 (2 Billion common shares - converted with controlling voting rights)
30% profit from SBQ Example: March 18, 2022: The land acquisition and construction costs for this property are $1.85 Million ($1,850,000) which realizes a $2.4 Million ($2,400,000) gross profit. = $720,000 to CEO Josh for this sale.
5,000,000 common shares at employment inception
$180,000 annual salary up to $540,000 based on company profits
$1 per share liquidation would mean in the likely of a bankruptcy common shareholders would not receive compensation
4 Weeks Paid Vacation plus benefits (medical, dental, travel, etc.)
We have not included income bonus from the Reg 1A since the distribution is vague
Details:
20,000,000 Preferred Series A Stock are granted 100 common shares votes for each share of Preferred Series A Stock held = 2,000,000,000 (2 Billion common)
Masterbeat Corporation owns 70% of its subsidiary SBQ, LLC. The remaining 30% is owned by its current Chief Executive Officer.
Each share of convertible Preferred Series A Stock is convertible into 10 shares of common stock, has 100 votes, has no dividend rights except as may be declared by the Board of Directors, and has a liquidation preference of $1.00 per share.
The Employee agrees that the Fixed Annual Compensation may be accrued at the discretion of the Company.
180,000.00 per annum at such times and in such amounts as the Company may designate in accordance with the Company's usual salary practices, but in no event less than twice monthly.
If annual revenues exceed $10,000,000.00, 360,000.00 per annum at such times and in such amounts as the Company may designate in accordance with the Company's usual salary practices, but in no event less than twice monthly.
If annual revenues exceed $20,000,000.00, 540,000.00 per annum at such times and in such amounts as the Company may designate in accordance with the Company's usual salary practices, but in no event less than twice monthly.
The Company shall grant to Employee Ten Million (10,000,000) shares of the Company's Common stock upon the effective date of this agreement.
Employee shall be entitled to an aggregate of four (4) weeks of paid vacation during each year of the Contract Year.
Employee shall be entitled to reimbursement of all business expenses for which Employee makes a submission for and provides an adequate accounting to the Company beginning on the effective date of this Agreement. Employee shall be entitled to cash reimbursement for expense items, including extended travel. Employee shall be entitled to cash or stock reimbursement for ordinary expenses, including phone and local travel, as approved in advance by the Board. Such reimbursement of business expenses shall be payable to Employee at the end of each calendar month for the business expenses incurred by the Employee for the month prior for each specific submission for reimbursement during the Term of this Agreement,
Employee shall be entitled to participate in any profit-sharing, pension, health, sick leave, holidays, personal days, insurance or other plans, benefits or policies (not duplicative of the benefits provided hereunder) available to the employees of the Company or its Affiliates on the terms generally applicable to such employees.
During the Term of this agreement, Employee shall be entitled to the protection of any insurance policies the Company or any of its Affiliates may elect to maintain generally for the benefit of its directors and officers against all costs, charges and expenses whatsoever incurred or sustained by Employee in connection with any action, suit or proceeding to which Employee may be made a party by reason of Employee being or having been a director or officer of the Company or any of its Affiliates or Employee serving or having served any other enterprises as a director, officer or employee at the request of the Company. In the event the Company elects to maintain such directors and officers liability insurance, the policy shall be issued by a reputable and financially-sound insurance carrier of national standing which is acceptable to Employee, and providing coverage in the amount of at least $1,500,000.
In the event that the Company, with the approval of the Board of Directors, elects to establish a Medical Insurance Benefit Plan for the benefit of the Company's employment staff, Employee shall be entitled to participate in such plan which shall include comprehensive medical and dental insurance (from a reputable and financially-sound insurance carrier of national standing) for himself and his immediate family. Such insurance shall cover at the minimum 100% of all hospitalization costs after payment of deductibles and 80% of other medical costs, with the annual deductible not exceeding $500 per person. There shall be no cap on benefits for the medical insurance, and the annual cap for dental insurance benefits shall not be less than $3,000. The Company may either provide these benefits directly to Employee or promptly reimburse Employee for the cost of such benefits, at the Company's election.
