August 7, 2008 Chesterfield, MO 63017 Dear Steve,
Chestnut Ridge Road
purpose of this letter, which serves as an addendum to your employment agreement
dated June 5, 2008, is to confirm additional considerations agreed to by the
Chairman and the Compensation Committee of the Board.
your new role as Chief Financial Officer requires relocation to North Carolina,
and results in the sale of both your Minneapolis and Missouri homes during
downturn in the housing market, two exceptions to the Company’s relocation
policy have been approved. The first exception provides loss-on-sale protection
to cover the full difference between the appraisal value and the documented
purchase price paid for both homes. The second exception provides for Company
reimbursement to offset any additional taxes that may result from the first
you have any questions or concerns regarding the provisions of this letter,
please do not hesitate to contact me directly on (201) 573-3137.
President, Global Compensation & Benefits