Interim Consulting Agreement for John F. Fort III as Primary Executive Officer
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Summary
This agreement outlines the terms for John F. Fort III to serve as a consultant and act as the Primary Executive Officer, with full CEO powers, starting June 1, 2002. He will be paid $150,000 per month, plus transportation and other customary expenses, and will be reimbursed for New York taxes incurred during his work in New York. The arrangement continues until a transition is completed as determined by the new CEO. No fringe benefits are provided during this period.
EX-10.3 5 a2085985zex-10_3.txt EXHIBIT 10.3 EXHIBIT 10.3 MEMO SUMMARIZING JOHN FORT'S INTERIM CONSULTING ARRANGEMENT The Compensation for John F. Fort III shall be set at $150,000 per month as a consultant acting as the Primary Executive Officer with all of the powers of CEO. He shall receive this fee for each month or part of a month worked beginning June 1, 2002 and until a transition is complete as determined by the new Chief Executive Officer. It will include his transportation expenses. He shall not receive any fringe benefits during his tenure. In addition, he shall receive other normal and customary expenses as well as reimbursement for New York Taxes for the period of time worked in New York.
