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Message: FACTS not Fiction Re BOD Pay!

The issue had to do with BoD compensation; not compensation for Committee membership/Chairmanship or Executive compensation. I was very specific in stating that what I was addressing was BoD pay, i.e., pay purely for being on the BoD. Thus, all my figures are correct, and there are no "half-truths".

And I acknowledged that while IMO BoD compensation is not enough to be worthy of discussion, I do have "issues" with compensation for other roles.

A pretty simple message. In case it isn't clear enough, I agree that most other compensation appears inflated for the probable effort and expertise required. BTW, IMO the only person whose compensation appears most appropriate to the tasks is that of Gloria, assuring proper SEC and CAS compliance in her Audit Committee Chair role.

As far as being "gracious with Options", that's currently a pretty hard sell IMO. 250K shares priced at 10 cents? None exercised for how long? Expiring as we speak? I suppose it could be characterized as "gracious", as in a gracious token gesture devoid of monetary value.

I will suggest that under current circumstances (far from a customary BoD member role), I strongly suspect that two members of the BoD have been under-compensated for that specific role for over a year. Here I acknowledge that I have no more detailed knowledge as to level of effort by any of the players than anyone else. But one could imagine the effort and frustration in dealing with Lecky. Other, non-BoD activities may be more labor-intensive than I think, or less, so it is impossible to accurately assess other than to say as I said "most other compensation appears inflated for the probable effort and expertise required".

And YES Cliff said he waives BoD member compensation. You know this, and that Cliff is actually performing as CFO and Interim CEO. The Bonus is optional, not an absolute, yet you place it at maximum based on last year, which may have no relation to what happens this year. Accurate and complete information?

End of thread for me. Or should I go ahead and respond to all of your related comments so we can duplicate the multiple mini-series of posts from the past? Oh heck, have at it, as I'm sure EVERYONE here has forgotten.... Just don't expect a response other than perhaps a warning for redundant posting and/or bashing for exagerating things you have no way of knowing.

SGE

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