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This excerpt taken from the YDNT DEF 14A filed Apr 2, 2009. Employment agreement with Daniel J. Tarullo In June 2006, the Company entered into employment agreement with Daniel J. Tarullo, the Company's Vice President. The employment agreement expired on June 2, 2008. However, the employment agreement automatically extends for successive one year periods unless terminated by the Company at least six months prior to the expiration of any successive term. During the term, Mr. Tarullo will be paid an annual base salary of $140,000, subject to any upward adjustment approved by the Compensation Committee, and are eligible to receive an annual, discretionary bonus. During the term, they are also eligible for group life insurance, disability or accident, death or dismemberment insurance, health and welfare benefits, 401(k) benefit plan, automobile allowance and other employee benefits. |
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