I recall a previous post where it was claimed the CEO only needed a dollar a year salary because he was independently wealthy from previous business ventures. So why does he suddenly need to draw a salary? And if the upcoming financials don't show a profit, it would be like the shareholders are suddenly paying him out of their own pockets. In fact, if the tape business wasn't ever profitable, it's like he's been living off the avails of investors for a number of years now. Tell me I'm wrong.
No. That is only his term of employment - how long he has his title. He doesn't get his pay until...
In consideration of the services to be rendered hereunder, the Company hereby agrees to pay the Executive an annual base salary of $180,000, commencing the date the Company receives full DEC approval.
So pay commences after approval. And I read nothing about retroactive pay. So no.
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