Retention Plan Summary for Thomas H. Fraser and E. Michael Egan

Summary

This agreement outlines a retention plan adopted by the company in January 2001 for certain employees, including Thomas H. Fraser and E. Michael Egan. Under the plan, participants receive a cash payment equal to 25% of their 2001 base salary if they remain employed on June 30, 2001, December 31, 2001, and June 30, 2002. Payments are made within five business days after each date. The plan is designed to encourage key employees to stay with the company through these specified dates.

EX-10.1 2 0002.txt RETENTION PLAN Exhibit 10.1 Summary of Retention Plan In January 2001, the Company adopted a retention plan. The plan provides for a cash payment to each participant, within five business days after each of June 30, 2001, December 31, 2001 and June 30, 2002, if such participant remains employed by the Company on the applicable date (i.e. June 30, 2001, December 31, 2001 and June 30, 2002). The amount of each payment equals 25% of such participant's base salary at the beginning of 2001. Participants in the plan include Thomas H. Fraser (whose base salary is $275,000) and E. Michael Egan (whose base salary is $220,000).