EX-99 3 ex99-2.htm EXHIBIT 99.2 Untitled Document

Exhibit 99.2

 

Compensation Arrangements for Giovanna Cipriano

November 21, 2005

 

The following is a summary of the compensation arrangements effective November 21, 2005 for Giovanna Cipriano in her capacity as Vice President and Chief Accounting Officer of the Company.

 

Annual Base Salary. $250,000

 

Stock Award. Ms. Cipriano received a stock option grant covering 20,000 shares, which will vest over a three-year period beginning November 21, 2006.

 

Annual and Long-Term Incentive Compensation Plans. Participation in the Annual Incentive Compensation Plan, as amended and the Long-Term Incentive Compensation Plan, as amended and restated.

 

Benefit Plans and Other Arrangements. Ms. Cipriano continues to be eligible to participate in the Company’s broad-based benefit programs including health, disability and life insurance programs, qualified 401(k) plan, pension plan and excess retirement plan.

 

Perquisites. Ms. Cipriano is eligible to participate in certain programs offered by the Company, including automobile expense reimbursement and financial planning.