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This excerpt taken from the MOVE DEF 14A filed Apr 30, 2009. Mr.
Caulfield. On October 5, 2006, we entered
into an employment agreement and Executive Retention and Severance Agreement
with Mr. Caulfield that provides for his employment as our Executive Vice
President, General Counsel and Secretary. Mr. Caulfield’s employment agreement
provides for an annual base salary of $275,000, and eligibility to participate
in the health insurance, 401(k) and other benefits offered to senior executives
of the Company. On December 19, 2008, the Company and Mr. Caulfield amended the
Executive Retention and Severance Agreement to include special provisions
intended to ensure compliance with Internal Revenue Code Section 409A relating
to deferred compensation. Additional details of Mr. Caulfield’s severance
entitlements pursuant to his Executive Retention and Severance Agreement are
addressed under the “Potential Payments Upon Termination or Change in Control”
section of this proxy statement.
Each of the above-described employment agreements (not including the Executive Retention and Severance Agreements) can be terminated by either party at any time. 34 |
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