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This excerpt taken from the XIDE DEF 14A filed Jul 16, 2007. Neil
Bright Severance Agreement
In October 2006, the Company entered into a severance agreement
with Neil Bright, the Company’s former
President — Industrial Energy Europe and Rest of
World. Pursuant to the terms of the agreement,
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Mr. Bright received a lump sum payment of twelve
months’ base salary and automobile allowance, accrued but
unpaid vacation for the year, a prorated portion of the annual
short-term cash incentive award and an additional lump sum
payment. Subject to the approval of the United Kingdom pension
trustees, the Company agreed to make an additional payment to
Mr. Bright’s U.K. pension in an amount equivalent to
the Company’s contributions from October 2006 through
October 2007, continuation of private health and life insurance
for a period of 12 months, reimbursement of certain legal
services incurred in connection with the negotiation of the
agreement and reimbursement of certain outplacement services.
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