prospectus out, just beginning to look at it........
"The Company and Mr. Crouch executed a retention agreement dated November 15, 2001, which was amended on February 13, 2002 and April 24, 2002. Under the agreement, Mr. Crouch received a base salary of $325,000 and earned a bonus of $108,333 in connection with certain milestones in 2001 and 2002. As part of the retention agreement, Mr. Crouch also received options to purchase 175,500 shares of the Company's Common Stock at an exercise price of $2.26. 87,750 of these options vested on March 31, 2002 and 21,938 of these options vested upon his resignation. In addition, Mr. Crouch's outstanding unvested options vested upon his resignation." |
