Summary of Material Terms of Employment for R.A. (Al) Walker as Senior Vice President, Finance and CFO

Summary

This agreement outlines the key employment terms for R.A. (Al) Walker as Senior Vice President, Finance and Chief Financial Officer, effective September 6, 2005. Mr. Walker will receive a base salary of $425,000, an annual bonus target of 85% of his salary, and equity grants including restricted stock and stock options under the company's incentive plan. He is also eligible for a change of control contract, indemnification agreement, and standard executive benefits. Vesting schedules and other terms are specified for the equity awards.

EX-10.1 2 h27932exv10w1.htm SUMMARY OF TERMS OF EMPLOYMENT - EVP FINANCE AND CFO exv10w1

EXHIBIT 10.1

Summary of Material Terms of Employment
R.A. (Al) Walker
Senior Vice President, Finance and Chief Financial Officer
(Effective September 6, 2005)


Position:		Senior Vice President, Finance and Chief Financial Officer

Base Salary:		$425,000

2005 Bonus Target:		85% of Base Salary under Company’s Annual Incentive Plan

Equity Grants:		- 23,000 shares of Restricted Stock to be granted under Company’s 1999 Stock Incentive Plan; to vest in four equal installments on the anniversary date of the grant*

		- 25,000 Non-Qualified Stock Options to be granted under Company’s 1999 Stock Incentive Plan; to vest in two equal installments on the second and fourth anniversaries of the grant*

		- Will also be eligible for 2005 annual grant under Company’s 1999 Stock Incentive Plan

Other:		Eligible for:

		- Key Employee Change of Control Contract,*

		- Director and Officer Indemnification Agreement,* and

		- the same benefits provided to other executive officers of the Company

* Form of agreement previously filed with Securities and Exchange Commission.