this was taken from a 3rd quarter 8k statement from the website
this was dated Aug, 25th 2006.......
As a part of its standard relocation package provided to executive officers,
director-level employees, senior managers and certain mid-level managers, the
Company offers assistance with the sale of a transferring employee's existing
home. This assistance is offered through a contract between the Company and
a third party home re-seller, which agrees to purchase the home at appraised
value and then re-sell the home. Upon the sale of the home by the employee
to the third party, the Company assumes the economic risk should the home
ultimately be re-sold for less than the appraised value. The Company also
assumes responsibility for closing costs incurred when the home is re-sold.
On August 21, 2006, Kevin C. S, the Company's Senior Vice President and
Chief Financial Officer, sold his home in Saline, Michigan to the third party
home re-seller at an appraised value of $485,500.
In addition to the foregoing and to relocation assistance previously reported
in the Company's 2006 proxy statement and Form 8-K filed on June 6, 2005, the
Company is providing the following relocation assistance to Mr. S: (1)
closing costs for Mr. S's new home in California, estimated at
approximately $35,000; and (2) payment for moving household goods and other
miscellaneous moving expenses, estimated at approximately $30,000. :shock:
this was dated Aug, 25th 2006.......
As a part of its standard relocation package provided to executive officers,
director-level employees, senior managers and certain mid-level managers, the
Company offers assistance with the sale of a transferring employee's existing
home. This assistance is offered through a contract between the Company and
a third party home re-seller, which agrees to purchase the home at appraised
value and then re-sell the home. Upon the sale of the home by the employee
to the third party, the Company assumes the economic risk should the home
ultimately be re-sold for less than the appraised value. The Company also
assumes responsibility for closing costs incurred when the home is re-sold.
On August 21, 2006, Kevin C. S, the Company's Senior Vice President and
Chief Financial Officer, sold his home in Saline, Michigan to the third party
home re-seller at an appraised value of $485,500.
In addition to the foregoing and to relocation assistance previously reported
in the Company's 2006 proxy statement and Form 8-K filed on June 6, 2005, the
Company is providing the following relocation assistance to Mr. S: (1)
closing costs for Mr. S's new home in California, estimated at
approximately $35,000; and (2) payment for moving household goods and other
miscellaneous moving expenses, estimated at approximately $30,000. :shock:
thanks gfy! means so much knowing a fellow kool-aid drinker cares.