Here's some incentive to get this deal done.
EMPLOYMENT AGREEMENTS AND CHANGE OF CONTROL CONSIDERATIONS
We have entered into employment agreements with Edward A. Tomechko, Donavan
W. Pederson, Jan K. Andersen and David R. Witzig. The term of Mr. Tomechko's
agreement commenced on January 11, 1999 and ends on January 10, 2002. The
agreements between us and Mr. Pederson, Mr. Andersen and Mr. Witzig commenced on
August 1, 1998 and end on July 31, 2000. Mr. Tomechko's annual base salary is
$175,000, subject to an immediate increase to $200,000 upon the closing of this
offering. Mr. Pederson's annual base salary is $120,000, subject to an immediate
increase to $140,000 upon the closing of this offering. Each of Messrs.
Andersen's and Witzig's annual base salary is $100,000, subject to an immediate
increase to $130,000 upon the closing of this offering. Mr. Tomechko will
receive a one-time $20,000 bonus upon the closing of this offering, and Messrs.
Pederson, Andersen and Witzig will each receive a one-time $10,000 bonus upon
the closing of
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this offering. The employment agreements further provide that each executive is
eligible to receive an annual performance bonus of up to 60% for Mr. Tomechko,
and 40% for Messrs. Pederson, Andersen and Witzig, of their respective base
salaries, if we achieve certain operating objectives.
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