Compensation Arrangement for Non-Executive Chairman Robert F. Erburu with MMC
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Summary
MMC's Board of Directors approved a compensation arrangement for Robert F. Erburu, the non-executive Chairman of the Board. Effective March 16, 2005, Mr. Erburu will receive an additional $100,000 per year in recognition of his expanded responsibilities as Chairman. This agreement outlines the supplemental annual payment and the effective date of the arrangement.
EX-10.2 3 dexhibit10-22q05.htm DESCRIPTION OF COMPENSATION ARRANGEMENT EX-10.1:
On May 19, 2005, the Board of Directors of MMC approved a compensation arrangement with the Chairman of the Board of MMC, Robert F. Erburu. In recognition of Mr. Erburu's additional responsibilities as non-executive Chairman of the Board of Directors, he will receive supplemental compensation of $100,000 per year effective as of March 16, 2005, the date of his appointment as Chairman of the Board of MMC.
EXHIBIT 10.2
On May 19, 2005, the Board of Directors of MMC approved a compensation arrangement with the Chairman of the Board of MMC, Robert F. Erburu. In recognition of Mr. Erburu's additional responsibilities as non-executive Chairman of the Board of Directors, he will receive supplemental compensation of $100,000 per year effective as of March 16, 2005, the date of his appointment as Chairman of the Board of MMC.
