Consulting Agreement between Sunrise Senior Living, Inc. and Paul J. Klaassen
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Summary
Sunrise Senior Living, Inc. entered into an oral consulting agreement with Paul J. Klaassen, its non-executive Chair of the Board, in November 2008. Under this arrangement, Mr. Klaassen was paid $25,000 per month to provide consulting services to the company and its new CEO, Mark S. Ordan, on senior living matters. The agreement was in addition to benefits from his prior employment contract, and Mr. Klaassen received a total of $87,500 for three and a half months of service.
EX-10.29 29 w76123exv10w29.htm EX-10.29 exv10w29
Exhibit 10.29
Consulting Arrangement with Paul J. Klaassen
As previously disclosed, in November 2008, Sunrise Senior Living, Inc. (the “Company”) entered into an oral consulting arrangement with Paul J. Klaassen, the Company’s non-executive Chair of the Board of Directors. Under the consulting arrangement, the Company agreed to pay Mr. Klaassen a fee of $25,000 per month for consulting with the Company and Mark S. Ordan, the Company’s new chief executive officer, on senior living matters. This was in addition to any benefits Mr. Klaassen was entitled to under his prior employment agreement. Fees totaling $87,500 were paid to Mr. Klaassen for three and a half months commencing in November 2008.
