Wednesday, September 28, 2011 10:19:36 AM
Ms. Marriott has agreed to forego the compensation offered to a non-employee Chairperson of the Board of Directors and has instead agreed to be compensated in the same manner as a member of the Board including, without limitation, a retainer amount equal to $16,000 per annum plus $4,000 per quarterly and annual meeting. For her services as a member of the Compensation Committee and Stock Option Committee Ms. Marriott will be compensated, without limitation, $5,000 per annum. [$41,000 so far]. During 2010 Ms. Marriott has provided marketing and business development consulting services to the Company on a per-diem basis for which she has been paid $75,000. [Total $116,000 plus she can do outside engagements and it seems being a "non-employee Chairperson" would increase her board compensation.]
Ms. Marriott’s fees for her services as Acting Chief Executive Officer will total approximately $63,000 for the period from October 8, 2010 through December 31, 2010. If the Company has not hired a Chief Executive Officer to replace her by January 1, 2011, Ms. Marriott’s consulting fees will continue at a rate of $24,000 per month.
“It ain’t so much the things we don’t know that get us into trouble. It’s the things we know that just ain’t so.” Henry Wheeler Shaw
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