Here’s one for the executive-compensation annals. I know you’re getting bored
of the subject, but bear with me here. This time, the company is Rocky Mountain
Fudge, and the easily-overlooked SEC filing is its 8K,
filed on April 16. The president and CEO who’s resigning "for personal
reasons" is Ronald Moulton. But he’s not exactly retiring:
he’s staying on as a "consultant". You want the juicy details?
Ronald Moulton’s agreement is for a term of three years and will be
automatically renewed for an additional three years, unless otherwise terminated
by Mr. Moulton or the company by giving 15 days written notice prior to the
renewal date. Mr. Moulton will provide consulting services related to the
production and marketing of our products and will act as an advisor to our
management. Mr. Moulton will be compensated at the rate of $20.00 per hour
for his services and be reimbursed for expenses related to his services.
Yep, you read that right. $20 per hour. That and a gold
star from Michelle Leder.