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Contingent Liability
3 Months Ended
Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Contingent Liability

12. CONTINGENT LIABILITY

 

Effective January 1, 2015 the Board of Directors authorized a new employment contract with Gunther Than, CEO of View Systems, Inc. That employment contract provides that in the event of a change in control of the Board of Directors or a buyout or takeover or substantial change of management structure Mr. Than will receive a minimum of three year’s salary plus 4.8 million shares of unrestricted stock of the equivalent in cash at Mr. Than’s direction. With the change in management in 2019, $376,800 in additional compensation to Mr. Than was accrued. Mr. Than’s current base salary is $120,000 per annum.

 

Effective July 1, 2019 the Board of Directors authorized a new employment contract with John Campo to become CEO of View Systems, Inc. Mr. Campo’s current base salary is $120,000 per annum.