Summary of Compensation Arrangement with David W. Schroeder
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Summary
This agreement outlines the compensation terms for David W. Schroeder, the Chief Financial Officer, as he seeks employment outside the company. The company will continue his salary and benefits until no later than May 31, 2004, and will pay him an amount equal to six months of his base salary after his employment ends. While still employed, Mr. Schroeder remains eligible for the company's bonus plan and for company-paid executive placement consulting services.
EX-10.33 9 c79778exv10w33.txt SUMMARY OF COMPENSATION ARRANGEMENT - D. SCHROEDER EXHIBIT 10.33 SUMMARY OF COMPENSATION ARRANGEMENT WITH DAVID W. SCHROEDER Mr. Schroeder serves as the Company's Chief Financial Officer, but is seeking an executive position outside of the Company. The Compensation Committee of the Board has agreed to continue Mr. Schroeder's salary and benefits while he remains employed by the Company to a date not later than May 31, 2004 ; and to pay an amount equal to his base salary for a period of six months following termination of employment with the Company. While employed, Mr. Schroeder will be eligible for participation in the Company's bonus plan. He is also eligible for Company paid executive placement consulting services.
