All weekly invoices for EDS services during the Post-Transition Period will be due and payable by VLT and AWI seven calendar days after the date of delivery thereof.
During the Transition Period and the Post-Transition Period, the Company shall provide Executive an office and a personal secretary reasonably acceptable to Executive, with such office to be of a size and with furnishings and other appointments as are suitable for a retired former Chief Executive Officer of a major public company and to be located in a Class A office building in downtown Chicago or at such other location as is acceptable to Executive.
During the Post-Transition Period, Mr. Lifshatz shall be paid the same base salary level as he previously received, and receive the same fringe benefits, including health and welfare benefits as received by other U.S. employees of the company, but shall no longer be eligible for participation in the Management Incentive Plan for the remaining portion of 2007 or any subsequent year.
The date upon which the Post-Transition Period, and Mr. Lifshatzs employment, terminates shall be referred to herein as the Termination Date and Mr. Lifshatzs employment with the Company shall terminate without any further action on either party, on the Termination Date.
During the Post-Transition Period, Mr. Lifshatz shall continue to exercise such powers and comply with and perform, faithfully and to the best of his ability, such directions and duties in relation to the business and affairs of the Company as may from time to time reasonably be vested in or requested of him, which shall include, but not be limited to, transition activities and other special strategic projects as reasonably requested by the Chief Executive Officer.