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

Contract Categories: Human Resources › Employment Agreements
Summary

International Wire Group, Inc. and William Lane Pennington have agreed to extend Mr. Pennington's term as Vice Chairman through December 31, 2006. Effective February 1, 2006, his annual cash compensation increases from $150,000 to $175,000. He will continue to receive company-provided medical and other insurance benefits, and his stock options remain unchanged. The agreement is confirmed by both parties' signatures.

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EX-10.6 8 d34757exv10w6.htm LETTER AGREEMENT exv10w6  

EXHIBIT 10.6
[letterhead of International Wire Group, Inc.
March 27, 2006
William Lane Pennington
Suite 260
2431 East 61st Street
Tulsa, OK 74114
Dear Lane:
     We are writing to confirm that your term as Vice Chairman has been extended through December 31, 2006. Effective as of February 1, 2006, your cash compensation has been increased from $150,000 to $175,000 annually. 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
April 4, 2006:
WILLIAM LANE PENNINGTON
/s/ William Lane Pennington