Tix Corporation Enters Into New Employment Agreement With Its Chief Executive Officer
TIX CORP (TIXC)
US:NASDAQ Investor Relations:
tixcorp.com
Company Research
Source: GlobeNewswire
STUDIO CITY, CA, Feb. 28, 2020 (GLOBE NEWSWIRE) -- Tix Corporation (the “Company”) (OTCQX: TIXC), a leading provider of discount ticketing services, today reported it entered into a new employment agreement, effective March 1, 2020, with its existing Chief Executive Officer, Mitch Francis. The new employment agreement with Mitch Francis, the Company’s Chief Executive Officer (the “Francis Employment Agreement”), replaces his prior employment agreement expiring on February 28, 2020. The Francis Employment Agreement has a four-year term through February 28, 2024, and provides for the following: An initial base salary to be $495,000 per year, subject to annual increases based on the greater of three percent and the one year percentage increase in the Federal Cost of Living Index, Southern California District consumer price index, which in no event shall exceed ten percent.An annual incentive bonus for each fiscal year ended December 31, which shall equal the product of consolida
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