John H. Sottile 2011 Bonus Waiver Letter to The Goldfield Corporation
John H. Sottile has informed the Benefits and Compensation Committee of The Goldfield Corporation's Board of Directors that he is voluntarily giving up his right to receive a bonus for 2011 under the company's bonus plan. This waiver applies only to the 2011 bonus and does not affect any other rights he has under his Employment Agreement.
Exhibit 10-1
John H. Sottile
7825 South Tropical Trail
Merritt Island, FL 32952
March 15, 2012
The Benefits and Compensation Committee of the Board of Directors of The Goldfield Corporation
Gentlemen,
Please be advised that I wish to forgo bonus due me under the bonus plan approved by the Board of Directors on March 17, 2011.
This waiver does not otherwise waive any rights I have in my Employment Agreement and is limited to my 2011 bonus. Thank you for your continued cooperation.
| Sincerely, |
| / s / JOHN H. SOTTILE |
| John H. Sottile |
cc: Board of Directors of The Goldfield Corporation
