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PRVT » Topics » Departure of COO

This excerpt taken from the PRVT 8-K filed Apr 24, 2009.

Departure of COO

Effective May 21, 2009, Peter Cohen will cease to be employed as the Company’s Chief Operating Officer. Under the terms of the Company’s employment agreement with Mr. Cohen, he is entitled to three months salary as a severance payment. No formal appointment has been made to replace Mr. Cohen as Chief Operating Officer. It is anticipated that other executives of the Company and its subsidiaries will assume operating responsibilities previously performed by Mr. Cohen.

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