Turk - terms are present in his offer letter, which was disclosed in an 8k back in (I think) December. Unless termed for cause, he gets 1 month of salary for each month he worked up to 12 months, with a 6 month minimum. So actually, his 'chute is $175k
I'm guardedly optimistic about any loans to the company. But bear in mind, they are so far behind in their disclosure that it is entirely possible that if/when they catch up their financials, we may find something that wasn't previously 8k'd.