Director Cash Compensation Agreement for Leslie Hudson, Roy Lowrance, and Paul Kolacki – Hooper Holmes, Inc.
Hooper Holmes, Inc. will pay Leslie Hudson, Roy Lowrance, and Paul Kolacki the cash equivalent of 5,000 shares of company stock, based on the stock's closing price two business days after the company files its 2005 annual report. This payment is for their service as directors in 2005 and replaces the restricted stock grant they would have otherwise received under the company's non-employee director compensation plan.
EXHIBIT 10.1
Description of certain cash compensation to be paid to Leslie Hudson, Roy Lowrance and Paul Kolacki
Hooper Holmes, Inc. (the “Company”) will pay to each of, Leslie Hudson, Roy Lowrance, and Paul Kolacki, the cash value of 5,000 shares of the Company’s common stock (as determined by the closing price of the Company’s common stock on the second business day following the day on which the Company files with the Securities and Exchange Commission its annual report on Form 10-K as of and for the year ended December 31, 2005) for service as a director in 2005, in lieu of a restricted stock grant of 5,000 shares to which each of them would otherwise be entitled to under the non-employee director compensation schedule currently in effect.
5
