What was the economic incentive Nichol referred to in his e-mail?
P: I’m not going to give the details, but it’s completely customary for the board and the chief executive to offer a transition package as a way of recognizing their service as a way to make the transition easy, graceful and dignified. I think that the board, particularly because we care about him personally, tried to put together what we thought was a very generous and gracious package, and he alludes to that slightly. However that’s interpreted as something more than what it was, and I’m not really at liberty to publicly explain the specifics, but it was basically a package that would allow him to transition from the position and hopefully find really rewarding and great future employment, which he deserves. But he doesn’t have to take it, and he chose not to. FH: Do you think that he characterized it unfairly? p. P: I don’t really want to get in direct dispute with anything he says. I will only say that it was not the board’s intention to censure him or unfairly restrict him. We wer
