RALPH BRIER COMPENSATION PACKAGE
Published on August 15, 2005
Exhibit 10.4
Ralph Brier
Gig Harbor. WA
Dear Ralph:
Re: Compensation Package
As we discussed. Visualant would like you to be its CEO for which it can offer
the following compensation package.
o 300,000 options to purchase stock at US $0.10 per share until August 15,
2009, vesting at the rate of 25,000 options at the beginning of each
quarter commencing August 15, 2004.
o 200,000 options to purchase stock at US $0.10 per share which wi11 be
granted upon the successful achievement of mutually acceptable, to be
determined, management objectives.
o US$5,000.00 per month from August 15, 2004 to November 15, 2004, payable as
a retainer in advance.
o US$4,000.00 per month incentive to be paid in arrears between August 15,
2004 and November 15, 2004, upon the achievement of mutually agreed upon
management objectives.
o US$12,500.00 per month once the major financing has been secured.
o Cash bonus to be negotiated based upon performance targets.
o Benefits which are appropriate for the position.
Please sign and return a copy of this letter to acknowledge your agreement.
Yours very truly,
/s/ Ronald P. Erickson
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Ronald P. Erickson
Chairman
Accepted and agreed.
/s/ Ralph Brier
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Ralph Brier