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Employment Agreements
3 Months Ended
Dec. 31, 2012
Employment Agreements  
Employment Agreements

Note 17 – Employment Agreements

 

On April 17, 2012, the Company entered into Change of Control Agreements (the “Agreements”) with all executive officers other than Michael I. German, the Company’s President and Chief Executive Officer. Each Agreement is effective as of April 20, 2012, and terminates on the first to occur of (i) termination of employment prior to a Change of Control (as defined in the Agreements); (ii) one year from the date of the Change of Control; or (iii) May 1, 2017, if no Change of Control has occurred. These Agreements define compensation amounts due upon termination of employment following a Change of Control except in cases of death, good cause or good reason.