Employment Terms Agreement for Lance F. Bospflug Regarding Special Projects and Compensation
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Summary
Lance F. Bospflug, a member of the Board of Directors, was employed by the company for special projects, reporting to the Chairman and CEO, Al A. Gonsoulin. He will receive a monthly salary of about $34,000, participate in the executive incentive and deferred compensation plans, and receive standard employee insurance and welfare benefits. While employed in this role, he will not receive extra compensation for his board service.
EX-10.1 2 h64783exv10w1.htm EXHIBIT 10.1 exv10w1
EXHIBIT 10.1
During the quarter ended September 30, 2008, Lance F. Bospflug, who is a member of the Board of Directors of the Company, was employed for special projects reporting directly to Al A. Gonsoulin, Chairman and CEO. Mr. Bospflug’s salary is approximately $34,000 per month and he will participate in the executive incentive compensation plan and the officers deferred compensation plan. He is eligible for the same insurance and welfare benefits as other employees. While employed, Mr. Bospflug will not receive any additional compensation for his service on the Company’s board.
