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Exhibit 10.52
Summary of 2008 Executive Severance Program
Design Principles:
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Provide a reasonable amount of
financial security during the individual’s transition to
other employment due to an involuntary separation.
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Recognize a combination of the
individual’s position / level and length of service.
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Provide clear criteria, guidelines
and eligibility schedule to ensure consistent administration.
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Eligibility Criteria:
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Executives in the executive
compensation / benefit program whose employment is terminated at
any time on or before December 31, 2008, without cause,
including reduction in force, restructuring or mandatory relocation
of more than 50 miles.*
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Executives with employment
agreements providing severance pay terms are not eligible for this
program unless there is a cancellation of the existing
agreement.
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Executives who are terminated for
cause are not eligible for this program.
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Voluntary resignations do not
qualify under this program.
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Eligibility Schedule: Executives that meet the
criteria above are eligible to receive a severance payment
equivalent to the number of months indica
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