The following reflects one reason why QTWW appears to be going down the tubes. These grandiose compensation grants for doing nothing does not serve the stockholders, excluding officers who are benefitting greatly, and insiders, the latter group is doing nicely no matter what the stock is doing.
Stabilized at $1.65? I am beginning to think that it is just taking a breather before resuming its plunge. It stabilized at $2.43, again at $2.20. To me stablize means more than just stay in one place for a few days.
On July 28, 2008, the Registrant's Compensation Committee: (i) approved a 4% salary increase for each of Kenneth R. Lombardo, the Registrant's General Counsel and Corporate Secretary, and Bradley J. Timon, the Registrant's Corporate Controller, (ii) approved an amendment to Section 3.2(a) of Mr. Timon's Employment Agreement to provide for a lump sum payment equal to 2 years salary (in place of 1 year) in the event of his involuntary termination of employment without Cause or his voluntary termination for Good Reason, and (iii) approved a $75,000 award of deferred compensation under the Registant's Nonqualified Excess Plan ("Deferred Compensation Plan") to W. Brian Olson, the Registrant's Chief Financial Officer. In accordance with the terms of the Registrant's Deferred Compensation Plan, the award is payable upon separation from service, death, disability, change in control, or unforeseeable emergency.
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