Replies to post #7668 on Bitcoin Generation Inc. (BTGN)

[Slojab]

I can't see why the would ever go up. There's no business here.

But that aside, this pay package is disturbing. Of course, they'll never get anything from it, because there will never be and cash to pay them.

What's really disturbing is the fact that both Berthold's are the only ones on the board of directors. So, aren't they also the only ones who could be on the "Compensation Committee of the Board". Nice to be able set your own salary and bonus.

(a) As compensation for his services to Employer, Employer shall pay to Executive an annual base salary of $310,000, payable in equal semimonthly payments in accordance with Employer’s regular payroll policy for salaried employees (the “Salary” ). The Compensation Committee of the Board (the “Compensation Committee” ), or in the absence of a Compensation Committee, the Board of Directors shall perform an annual review of Executive’s Salary based on a review of Executive’s performance of his duties and Employer’s other compensation policies. The Compensation Committee may, at its sole discretion, increase (but not decrease) the Salary at any time, and from time to time. In addition, Salary may be paid at the option of the Executive in shares of the Employer’s common stock.

(b) In addition to the foregoing Salary, Executive shall be eligible for an annual incentive bonus ( “Incentive Bonus” ) determined by the Board, commencing in 2011 with respect to fiscal 2011, which Incentive Bonus shall be payable in cash or stock, following the date on which Employer’s Form 10-K for the previous fiscal year is filed with the Securities and Exchange Commission.