Summary of Executive Employment Agreements and Severance Terms for Key Officers as of December 31, 2007
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Summary
This document summarizes the employment agreements for several executives, including the CEO, President/COO, EVPs, and SVPs, as of December 31, 2007. It outlines the severance periods provided to each executive in the event of termination or a change of control, ranging from 12 to 21 months depending on the position and circumstance. All executives are subject to an 18-month non-compete period after termination and a 24-month non-compete period following a change of control.
EX-10.18 2 c24262exv10w18.htm SCHEDULE OF PARTIES TO EXECUTIVE EMPLOYMENT AGREEMENT exv10w18
EXHIBIT 10.18
Summary of Employment Agreements
December 31, 2007
December 31, 2007
| Length of Severance Period | ||||||||||||
| Employee | Title | Termination | Change of Control | |||||||||
Bahram Akradi | CEO | NA | NA | |||||||||
Mike Gerend | President/COO | 18 mos. | 21 mos | |||||||||
Mike Robinson | EVP | 18 mos. | 21 mos | |||||||||
Mike Brown | SVP | 18 mos. | 12 mos. | |||||||||
Eric Buss | EVP | 18 mos. | 12 mos. | |||||||||
Mark Zaebst | EVP | 18 mos. | 12 mos. | |||||||||
Jeff Zwiefel | SVP | 18 mos. | 12 mos. | |||||||||
Non-compete term of 18 months across all employees in the event of a “Termination” situation and 24 months across all employees in the event of a “Change of Control” situation.
