Rosetta Stone 2011 Annual Report Download - page 186
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4. Section 3. of the Employment Agreement is amended by deleting the first paragraph in its entirety and substituting the
following thereof.
3. Salary, Bonus and Benefits.
The Board shall make all decisions related to Executive's base salary and the payment of bonuses, if any. Executive's Annual
Base Salary and other compensation will be reviewed by the Board at least annually.
5. Section 3. (a) of the Employment Agreement is amended by deleting the words "the CEO and" from the second line and
replacing "$400,000" with "$500,000" in the third line of the section.
6. Section 3. (b) of the Employment Agreement is amended by replacing "60%" with "100%" in the eighth line of the
section.
7. Section 3. (d) of the Employment Agreement is amended by deleting the following sentences: "The grants shall have
such terms as are determined by the Board in accordance with the current stock plan in place at time of grant. Executive
will be eligible to participate in a pending executive long-term performance plan that will be approved by the Board.
Executive will receive a minimum of 12.5% of the executive grant pool pursuant to the terms of the long term incentive
program."
8. Section 5. (c) of the Employment Agreement is amended by replacing "CEO" with "Board" in the fifth line of the
section.
9. Section 5. (d) of the Employment Agreement is amended by replacing "CEO" with "Board" in the second line of the
section.
10. Section 5. (d) (i) is amended by deleting "or the CEO" from the fifth, eleventh, and twentieth lines of the subsection.
11. Section 5. (e) is amended by deleting "the CEO or" from the sixth line of the section.
12. Section 6. (a) (i) (3) and (4) are amended by replacing "(y) 12" with "(y) 18" in the third line of each subsection.
13. Section 6. (a) (iii) is amended by replacing "twelve" with "eighteen" in the fourth and seventh lines on the subsection.
14. Section 8. (a) is amended by replacing "CEO's" with "Board's" in the twelfth line of the section.
15. Section 8. (b) is amended by replacing "CEO" with "Board" in the sixteenth and seventeenth lines of the section.
16. Section 8. (c) is amended by replacing "CEO" with "Board" in the eleventh line of the section.
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