Description of Danny Stein’s Compensation as Interim Chief Executive Officer
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Summary
This document outlines the compensation arrangement for Danny Stein, who was appointed Interim Chief Executive Officer of the company effective October 1, 2009, following the resignation of the previous CEO. Mr. Stein was to receive $50,000 for a three-month term. However, he resigned on October 27, 2009, and was paid a pro-rated amount of $16,666 for his service during that period.
EX-10.1 4 v164570_ex10-1.htm Unassociated Document
Exhibit 10.1
Description of Danny Stein’s Compensation for his Service as Interim Chief Executive Officer
On September 25, 2009, as a result of the resignation of Greg Scholl, the Company’s Chief Executive Officer and President, the Board of Directors of the Company appointed Danny Stein, a member of the Board of Directors, as Interim Chief Executive Officer effective October 1, 2009 for a three-month period. Mr. Stein was to receive $50,000 as compensation for his role as Interim Chief Executive Officer.
On October 27, 2009, Danny Stein resigned as Interim Chief Executive Officer of the Company. Mr. Stein received a pro rated portion of his original compensation for the period in which he served as Interim Chief Executive Officer in the amount of $16,666.
