Letter Agreement Extending Vice Chairman Term Between International Wire Group, Inc. and William Lane Pennington

Contract Categories: Human Resources › Employment Agreements
Summary

This agreement confirms that International Wire Group, Inc. has extended William Lane Pennington's term as Vice Chairman through December 31, 2007. Mr. Pennington will continue to receive an annual cash compensation of $175,000, along with ongoing company-provided medical and other insurance benefits. His stock options remain unchanged. The agreement is effective upon Mr. Pennington's acceptance and signature.

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EX-10.39 2 d44375exv10w39.htm LETTER AGREEMENT exv10w39  

EXHIBIT 10.39
[letterhead of International Wire Group, Inc.]
March 26, 2007
William Lane Pennington
Suite 260
2431 East 61st Street
Tulsa, OK 74114
Dear Lane:
     We are writing to confirm that, by written consent of the Board of Directors International Wire Group, Inc. dated December 29, 2006, your term as Vice Chairman has been extended through December 31, 2007. Your cash compensation will remain $175,000 annually. Additionally, your company-provided medical and other insurance benefits will continue and your stock options are unaffected.
     If the foregoing is correct, please so indicate by signing this letter in the space provided below.
[The remainder of this page has intentionally been left blank]

 

 

             
    Very truly yours,    
    INTERNATIONAL WIRE GROUP, INC.    
 
  By:   /s/ Rodney D. Kent
 
    
 
      Name: Rodney D. Kent    
 
      Title: Chief Executive Officer    

 

 

     
AGREED AND ACCEPTED
    
March 28, 2007:
    
 
    
WILLIAM LANE PENNINGTON
    
 
    
/s/ William Lane Pennington