Exhibit 10.9

 

GRAPHIC [g195581kgi001.gif]

 

M E M O R A N D U M

 

TO:

Thomas J. Hollister

 

 

FROM:

Edward J. Faneuil

 

 

CC:

Eric Slifka

 

Kenneth Watchmaker

 

 

DATE:

July 9, 2013

 

 

RE:

Follow-up Understandings

 

Tom:

 

As a follow-up to our discussions, the below memorializes the several items that
Global (the “Company”) had agreed to address.  In no particular order, here is
my summary of those “action items”:

 

1.            Automobile

 

You may retain and use the Company automobile which you currently drive until
December 31, 2013.  During that timeframe, the Company will remain responsible
for the insurance, maintenance and repairs of said automobile.  Consistent with
your employment “perks”, gasoline expenses will be for your account.  Effective
January 1, 2014, the Company will sell the automobile to you for One and 00/100
($1.00) Dollar on an “as is”, “where is” basis.

 

2.            Upon expiration of your Terminal Administrative Leave on
December 31, 2013, you and the Company recognize and agree that your eligibility
to participate in certain benefits

 

--------------------------------------------------------------------------------

 

including, without limitation, 401(k), employer-sponsored long term disability
and life insurance and other employee benefit plans (the “Unavailable Benefits
Package”) shall end.  The Company and you agree that the following consideration
to you shall constitute full and final satisfaction of the Company’s commitment
to address the Unavailable Benefits Package in a mutually satisfactory manner:

 

a.             On or before August 31, 2013, the Company shall pay you
$25,500.00

 

b.            On or before December 31, 2013, the Company shall pay not more
than Ten Thousand and 00/100 ($10,000.00) Dollars of invoices (upon your
submission of same) associated with life insurance, disability, long term health
care or similar like policy premiums on your behalf.

 

I trust that I have captured the essence of our understandings.  Should you have
any questions, please do not hesitate to contact me.

 

If satisfactory, kindly reply by email confirming your agreement and
understanding.

 

 

As always, best wishes.

 

 

 

EJF/mew

 

--------------------------------------------------------------------------------