Implements Change-in-Control Retention Arrangements for Employees
Concurrent with the engagement of a financial advisor, the compensation committee of the Company's board of directors approved change-in-control retention arrangements for the Company's employees in order to ensure continuity of its business and its employees through the completion of the strategic alternatives review process and any related transactions.
This press release contains forward-looking statements, including with regard to the Company's review of certain strategic alternatives and any expected or anticipated benefits from the foregoing review process. These statements are not guarantees of future events and involve risks and uncertainties that are difficult to predict. As a result, there can be no assurance that this process will result in a transaction, or if a transaction is undertaken, as to its terms or timing.
In addition, actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors, including the factors discussed in the Company's annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and other documents or reports that the Company in the future may file with the
The Company has not set a definitive schedule to complete its review of strategic alternatives and does not intend to provide updates until such time as it determines in its sole discretion, as required by law, and/or it has entered into definitive documentation with respect to any strategic transaction.
Chairman & Chief Executive Officer
Chief Financial Officer
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