You know, it just occurred to me that someone seems to be missing from the list of directors - what happened to Mr. Gilbert already?
So how does one shake their head back & forth in print?
Along another line, here are the compensation agreements:
EMPLOYMENT AGREEMENTS
----------------------
The Company has entered into employment agreements with each of its
executive officers. Mr. Hilliou's employment agreement terminates on April 29,
2001 and provides for a $225,000 annual base salary and a cash bonus based upon
the Company's results of operations. Mr. Wilson's employment agreement
terminates on September 30, 2002 and provides for a minimum $225,000 annual base
salary and a cash bonus based upon the Company's results of operations. Mr.
Wilson's agreement restricts his competition with the Company during its term.
Mr. Orton's employment agreement terminates on December 31, 2000 and provides
for an annual base salary of $100,000 and a cash bonus based upon the Company's
results of operations. The Company and Mr. Henry are currently negotiating the
termination of his employment agreement. Messrs. Mims and Harrison have
employment agreements terminating on September 23, 2000 and December 18, 2000,
respectively. Mr. Mim's agreement provides for an annual base salary of
$250,000, subject to adjustment. Mr. Harrison's agreement provides for an
annual base salary of $125,000. Both agreements allow annual bonuses at the
discretion of the Board. Messrs. Hilliou, Orton, Henry, Mims and Harrison are
prohibited from disclosure of the Company's confidential information and from
competing with the Company during the term of their agreements and for two years
thereafter.
Sure hope they produce, the corporate overhead just increased a notch.
Gary |
