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Executive Officers' Separation and Hiring Costs
3 Months Ended
Mar. 31, 2012
Executive Officers' Separation and Hiring Costs [Abstract]  
Executive Officers' Separation and Hiring Costs

Note 9 – Executive Officers’ Separation and Hiring Costs

On February 24, 2012, Stephen E. Graham resigned from his position as Senior Vice President – Chief Financial Officer and Secretary of the Company. On February 27, 2012, the Company entered into an employment agreement with Paul Morrisroe, pursuant to which he agreed to serve as the Company’s Senior Vice President, Chief Financial Officer and Secretary. On February 20, 2012, David S. Nagle was appointed President, AMI Distribution.

The Company accrued $1.6 million for the quarter ended March 31, 2012 for separation and hiring costs, including payroll taxes, certain benefits and related professional fees. These separation and hiring costs have been recorded as a component of selling, general and administrative expenses. Mr. Graham’s separation costs will be paid in accordance with his employment agreement. As of March 31, 2012, remaining separation costs payable to the Company’s former executives of approximately $5.3 million are accrued, which will be paid at various dates through 2014.