Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensation Arrangements of Certain Officers
(e) Compensation Arrangements of Certain Officers
In connection with the Company's recently announced corporate reorganization,
the Company has agreed to award Peter T. Noone, the Company's General Counsel
and Secretary a discretionary cash bonus in the amount of $100,000, which bonus
is contingent upon, and payable following, the completion of the Company's
contemplated reorganization. The Company has also agreed to provide Mr. Noone
with a loyalty/retention bonus in the amount of $100,000. In addition, the
Company has amended Mr. Noone's employment agreement to increase the severance
benefits by an amount equal to 25% of his current annual base salary.
Add
HTC to Portfolio
Set Alert
Email to a
Friend