Replies to post #32477 on Carnegie Development Inc. (CDJM)

[FD2you]

Where does it say that payments were not made?

Where does it say the payments are not owed?

Where does it show that this agreement has been terminated?

Re: stockfan100 Post# 32467
NOTE 6: COMMITMENTS, page 11 in the audited financials.

As of January 2009, the Company entered into a three year employment agreement with an employee. The agreement will renew for an additional three years at the end of the term[\b], unless notification is given by either party to terminate. The aggregate compensation to be paid under the agreement amounts to $360,000 per year. The agreement also provided for 50,000 shares of restricted common stock to be issued upon signing the agreement. [\b]If the employee arrangement is terminated without cause by the Company, the Company is under obligation to pay the employee, in lump sum cash within 10 days of termination, the three times the annual base salary of the employee, plus the average for the last three annual incentive bonuses actually paid to the executive. If the employment agreement is terminated with cause[b/], the Company has no liability for further payments. Year 2012 2013 2014 Commitments $360,000 $360,000 $360,000
https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=145235

Have we seen any notification that this "employee" has been terminated? It looks like ESCU is on the hook for another $360,000 and 50,000 shares just for this year.

That is a pretty sweet salary for an unnamed "employee".