Transitional Benefits Agreement for Former CEO Alan E. Ross
This agreement outlines the transitional benefits provided by the company to Alan E. Ross, who retired as President and Chief Executive Officer on January 3, 2005, but remains a board member. The company will pay or reimburse Mr. Ross for temporary housing, a rental car, and health insurance coverage, along with a tax gross-up. The total estimated value of these benefits is approximately $35,000.
Exhibit 10.1
CERTAIN TRANSITIONAL BENEFITS FOR FORMER CHIEF EXECUTIVE OFFICER
On February 23, 2005 the Board agreed to pay or provide reimbursement for certain transitional benefits for Alan E. Ross, who retired from his positions as President and Chief Executive Officer of the company on January 3, 2005 and remains a member of the Board. The transitional benefits, which the Company estimates will have a total value of approximately $35,000, include expenses related to temporary housing, a rental car and health insurance coverage, plus a related tax gross-up.
