Hi Sword - the $ 2,500 monthly car allowance appears to be one of Rob Gordon's executive employment benefits and not John Hwang's...
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TSIG/ROBERT P. GORDON EMPLOYMENT AGREEMENT PAGE 9 OF 9
EXHIBIT A
Paid Vacation - 6 Weeks per year accrued monthly.
Sick Time - 12 days per year accrued at one half day per month.
Holidays - 8.5 annually
Car Allowance - The Company shall pay Executive $2,500 per month as a Car Allowance
Health Insurance - United HealthCare Eligible on the first of the month following your first 90 days Family Coverage Total Premium - $508.83 monthly Company Pays - $168.65 monthly Employee Pays - $340.18 monthly
Dental Insurance - American Dental Plan
Two Choices
HMO Dental - Family Coverage Total Premium - $26.48 Monthly Employee pays $15.58 monthly
Indemnity - Family Coverage Total Premium - $44.00 Monthly Employee pays $26.00 Monthly
Life insurance paid for by the Company for employee only (no add-on's)
Coverage is by class - Managers Class 1: Chairman/CEO coverage is $50,000
Liability Insurance - Hartford Business Insurance
Commercial Package
Liability and Medical $1,000,000
Personal and Advertising Injury $1,000,000
General Aggregate $2,000,000
Products - Completed Operations $2,000,000
Umbrella $2,000,000
Workers Comp $ 500,000 Each
Current coverage in effect through 5/27/99.
D&O - Agricultural E&S Ins. Co. $2,500,000
Rock River Ins. Co. $2,500,000
TIG Specialty Insurance Company $2,500,000
Admiral Insurance Company $2,500,000
TSIG/ROBERT P. GORDON EMPLOYMENT AGREEMENT Exhibit A
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I didn't see anything in John Hwang's employment agreement that he was entitled to a monthly $ 2,500 car allowance. What it does state is the following:
"(D) The Company shall reimburse Hwang on a monthly basis for all
reasonable and necessary expenses, upon presentation by Hwang of an itemized account of such expenditures, or, at the discretion of the Company, the Company may advance such expenses to Hwang."
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TSIG/HWANG EMPLOYMENT AGREEMENT PAGE 10 OF 10
EXHIBIT A
SENIOR VICE PRESIDENT AND CHIEF INFORMATION OFFICER
Paid Vacation - 3 Weeks per year accrued monthly.
Sick Time - 6 days per year accrued at one half day per month.
Holidays - 8.5 annually
Health Insurance - United HealthCare Eligible on the first of the month following your first 90 days Family Coverage Total Premium - $508.83 monthly Company Pays - $168.65 monthly Employee Pays - $340.18 monthly
Dental Insurance - American Dental Plan
Two Choices
HMO Dental - Family Coverage Total Premium - $26.48 Monthly
Employee pays $15.58 monthly
Indemnity - Family Coverage Total Premium - $44.00 Monthly Employee pays $26.00 Monthly
Life insurance paid for by the Company for employee only (no add-on's) Coverage is by salary - SVP/CIO coverage is $50,000
Liability Insurance - Hartford Business Insurance
Commercial Package
Liability and Medical $1,000,000
Personal and Advertising Injury $1,000,000
General Aggregate $2,000,000
Products - Completed Operations $2,000,000
Umbrella $2,000,000
Workers Comp $ 500,000 Each
Current coverage in effect through 5/27/99.
D&O - Agricultural E&S Ins. Co. $2,500,000
Rock River Ins. Co. $2,500,000
TIG Specialty Insurance Company $2,500,000
Admiral Insurance Company $2,500,000
TSIG/HWANG EMPLOYMENT AGREEMENT EXHIBIT A
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When others suggest that John Hwang is entitled to a monthly $ 2,500 car allowance - I do not believe that is the case based on what I read in the 10K.
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To: Eagle (25806 )
From: Ditchdigger
Sunday, Apr 18 1999 4:05PM ET
Reply # of 25826
Ask him if he enjoyed his $20,000 signing bonus,as well as if he is enjoying his $2500/month automobile allowance..The cash must just be rolling in..;^)DD
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Regards,
phil.com |
