www.sec.gov/Archives/edgar/data/1059784/0001144204-07-0 -
[Cached Version]
Published on: 5/1/2007
Last Visited: 5/2/2007
Mark Fletcher, Esq. - Age 41 - Mr. Fletcher has served as our Executive Vice President and General Counsel since April 2003.From October 2001 to March 2003, Mr. Fletcher was engaged in the private practice of law as a partner at Goodman and Carr LLP, a leading Toronto law firm.From March 1993 to September 2001, Mr. Fletcher was a partner at Brans, Lehun, Baldwin LLP, a law firm in Toronto.Mr. Fletcher received his LL.B. from the University of Western Ontario in 1989 and was admitted to the Ontario Bar in 1991.
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Mr. Fletcher is compensated through an employment agreement, dated March 17, 2003, between Mr. Fletcher and Generex.Pursuant to the terms of the employment agreement, Mr. Fletcher holds the position of Executive Vice President and General Counsel.The employment agreement provides for Mr. Fletcher's term of service to extend through March 16, 2008, subject to (i) termination without cause by Generex upon 30 days' prior written notice and (ii) for cause by Generex immediately upon the giving of notice.The employment agreement provides that Mr. Fletcher will receive annual base compensation.Under the employment agreement, Mr. Fletcher may receive additional cash bonuses at the discretion of the Board of Directors.Upon entering into the employment agreement Mr. Fletcher received options to purchase 250,000 shares of common stock.On April 5, 2005, our Board of Directors increased the annual base salaries of certain executive officers effective as of August 1, 2004, and Mr. Fletcher's annual base salary was increased from $130,000 (including guaranteed bonus of $30,000) to $250,000 (with no guaranteed bonus).