"In connection with the Reorganization and Merger Agreement, Mr. Salmon resigned all of his positions with the Company."
That's what the 10k said.
So that would seem to indicate that he is no longer CFO. He might still be paid, though, because of the bolded item from the same paragraph:
(2) The Company entered into employment agreements with Mr. Williams and Mr.
Salmon. These agreements provided for, among other things, the payment of
compensation over 5 years from the date of their employment, regardless of
whether or not these executive officers remained in the employ of the
Company. On June 30, 1998, the Company and Mr. Stephen Williams entered into
an agreement and mutual release (the "Release"). Pursuant to the Release,
the Company issued 300,000 shares of its common stock and released Mr.
Williams from any and all claims, demands, contracts, and obligations of any
kind whatsoever which the Company had, has or may have against Mr. Williams
in exchange for a release from Mr. Williams of any and all claims, demands,
contracts and obligations of any kind whatsoever which Mr. Williams had, has
or may have against the Company arising out of his employment with the
Company. In connection with the Reorganization and Merger Agreement, Mr.
Salmon resigned all of his positions with the Company
It appears that unlike Williams, Salmon didn't relinquish his claim for compensation for 5 years. |
