Letter Agreement Terminating Acting CFO Compensation and Awarding Separation Bonus to James H. Tate

Contract Categories: Human Resources › Separation Agreements
Summary

This letter agreement between the company and James H. Tate confirms the termination and full satisfaction of a previous compensation agreement for his service as acting Chief Financial Officer. By signing, Mr. Tate acknowledges that all terms of the prior agreement have been met. In recognition of his service, the company awards him a special separation bonus of $100,000. The agreement is effective upon Mr. Tate's signature and return of the letter.

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EX-10.15 7 exhibit1015.htm exhibit1015.htm
 
 
 


December 9, 2008


Mr. James H. Tate
17605 Lasiandra Drive
Chesterfield, MO 63005

Re:           Completion of Duties as Acting Chief Financial Officer

Dear Jim:

Thank you for your many months of service as acting Chief Financial Officer during this time of transition for the Company.  This letter will memorialize the termination and full and complete satisfaction of the terms of a Letter Agreement governing your compensation as acting Chief Financial Officer, which you signed and dated March 26, 2008.  By signing below you indicate your concurrence that the Letter Agreement has been terminated and that its terms have been fully satisfied.  In addition, in recognition of your service to the Company the Human Resources and Nominating Committee of the Board of Directors has awarded you a special separation bonus in the amount of $100,000.

To formalize our understanding, please sign and return a counterpart of this letter to me at your earliest convenience.  Again Jim, we appreciate your service to the Company.

 

Sincerely,



Dennis R. Winkleman



ACCEPTED:


/s/ James H. Tate                                                      
James H. Tate, December 9, 2008