This excerpt taken from the S DEF 14A filed Mar 30, 2009.
On January 25, 2008, we terminated Paul N. Salehs, our former Chief Financial Officer, employment without cause. The following table and narrative describe the payments Mr. Saleh is entitled to receive due to his termination.
On March 15, 2008, Mr. Saleh entered into an amendment to his employment agreement to provide him a one-time payment of $250,000 conditioned upon execution of a release in recognition of his service as interim Chief Executive Officer.
Pursuant to his employment agreement and our benefit and compensation plans and programs, Mr. Saleh is entitled to receive the following severance benefits:
Conditions Applicable to the Receipt of Severance Payments and Benefits
As a condition to Mr. Salehs entitlement to receive the benefits discussed above, he has executed a release in favor of us. In addition, the continued payment of the above amounts is based on Mr. Salehs compliance with confidentiality and non-disparagement provisions on a permanent basis following the termination of his employment and, for the 24-month period following the termination of his employment, with non-competition and non-solicitation provisions.
This excerpt taken from the S DEF 14A filed Apr 9, 2007.
The following table and narrative describe the potential payments upon termination of employment for Paul N. Saleh, our Chief Financial Officer, assuming the date of termination of employment was December 29, 2006. Mr. Salehs employment agreement does not provide for different benefits if Mr. Saleh is terminated as a result of a change in control.