MRY » Topics » Note J. SEPARATION CHARGES

This excerpt taken from the MRY 10-Q filed May 15, 2007.

Note J. SEPARATION CHARGES

Effective December 9, 2005, the Company’s President and Chief Executive Officer retired from his position and was succeeded by the Company’s Executive Vice President and Chief Financial Officer, who was serving as President and Chief Executive Officer on an interim basis. In connection with the retirement, the Company recorded separation charges of $1,130,000, including $182,000 of associated legal fees, in the three months ended December 31, 2005. These separation charges are included as General, Selling and Administrative Expenses. As of March 31, 2007, $145,000 of these separation costs have been accrued and are included as Accrued Separation Charges in Accounts Payable and Accrued Expenses (see Note H).

 

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This excerpt taken from the MRY 10-Q filed Feb 12, 2007.

Note I. SEPARATION CHARGES

Effective December 9, 2005, the Company’s President and Chief Executive Officer retired from his position and was succeeded by the Company’s Executive Vice President and Chief Financial Officer, who was serving as President and Chief Executive Officer on an interim basis. In connection with the retirement, the Company recorded separation charges of $1,130,000, including $182,000 of associated legal fees, in the three months ended December 31, 2005. These separation charges are included as General, Selling and Administrative Expenses. As of December 31, 2006, $253,000 of these separation costs have been accrued and are included as Accrued Separation Charges in Accounts Payable and Accrued Expenses (see Note H).

 

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This excerpt taken from the MRY 10-K filed Sep 20, 2006.

Note 18. Separation Charges

Effective December 9, 2005, the Company’s President and Chief Executive Officer retired from his position and was succeeded by the Company’s Senior Vice President and Chief Financial Officer, who was serving as President and Chief Executive Officer on an interim basis. In connection with the retirement, the Company has recorded separation charges of $1,130,000, including $182,000 of associated legal fees, during the year ended June 30, 2006. These separation charges are included as General, Selling and Administrative expenses. As of June 30, 2006, $508,000 of these separation costs has been accrued and are included as Accrued Separation Charges in Accounts Payable and Accrued Expenses (see Note 9).

This excerpt taken from the MRY 10-Q filed May 15, 2006.

Note L. SEPARATION CHARGES

Effective December 9, 2005, the Company’s President and Chief Executive Officer retired from his position and was succeeded by the Company’s Senior Vice President and Chief Financial Officer, who was serving as President and Chief Executive Officer on an interim basis. In connection with the retirement, the Company has recorded a separation charge of $1,130,000, including $182,000 of associated legal fees, in the second quarter of fiscal 2006. These separation charges are included as General, Selling and Administrative expenses. As of March 31, 2006, $700,000 of these separation costs have been accrued and are included as Accrued Separation in Accounts Payable and Accrued Expenses (see Note D).

 

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This excerpt taken from the MRY 10-Q filed Feb 14, 2006.

Note L. SEPARATION CHARGES

 

Effective December 9, 2005, the Company’s President and Chief Executive Officer retired from his position and was succeeded by the Company’s Executive Vice President and Chief Financial Officer, who is serving as President and Chief Executive Officer on an interim basis. In connection with the retirement, the Company has recorded a separation charge of $1,130,000, including $182,000 of associated legal fees, in the second quarter of fiscal 2006 relating to the separation agreement entered into between the former Chief Executive Officer and the Company. These separation charges are included as General, Selling and Administrative expenses. The former Chief Executive Officer has retained all shares of the Company’s common stock owned by him. As of December 31, 2005, $980,000 of these separation costs have been accrued and are included as Accrued Separation in Accounts Payable and Accrued Expenses (see Note D).

 

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