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Technology Stocks : Westell WSTL

WSTL 6.130

+8.7%

Nov 26 3:52 PM EST

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To: Vladimir Zelener who wrote (12639)	8/13/1998 8:10:00 PM
From: bill c.	Read Replies (1) of 21342

[ Mr Seamans' retirement agreement ] I don't think Westell would need this type of agreement if Gary left on good terms. This sounds like hush money to me.... until later. ... In connection with Mr. Seamans' retirement from the Company in April 1998, the Company and Mr. Seamans entered into a retirement agreement (the "Retirement Agreement") in which the Company (i) provided to Mr. Seamans $760,000 and (ii) agreed to reimburse Mr. Seamans for certain income tax planning expenses incurred through December 31, 2000, in an amount not to exceed $25,000. Under the Retirement Agreement, Mr. Seamans agreed (i) not to compete with the Company for a period commencing upon the date of his retirement and ending December 31, 1999, (ii) not to solicit any current employees of the Company, and (iii) not to engage in any form of conduct that disparages or otherwise impairs the reputation, goodwill or commercial interests of the Company and its officers and directors ... www4.edgar-online.com

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