Joseph R Seiders due to retire

Joseph R Seiders is due to retire from CDI Corporation. He is currently working through a timed exit with a departure date of September 30 2011.

Joseph R Seiders has been the Senior Vice President and General Counsel of CDI Corporation since 1987. In March 2009 he became CDI Corporations Chief Legal Officer.

Read the the details of his forthcoming departure below

He may be seeking further employment. If he is, it will be of interest to see what any new potential employer thinks of his track record at CDI Corporation. In particular Mr Joseph Seiders affidavit statements that he made on oath to the Ohio Courts.

Joseph R Seiders Retirement

Joseph R Seiders ceased serving as Senior Vice President, Chief Legal Officer and Secretary of CDI Corporation as of May 17, 2011.

Mr. Seiders and CDI entered into a Non-Competition Agreement and Release and Waiver of Claims (the "Agreement"). Mr. Seiders agreed to continue to perform services as an employee of CDI through September 30, 2011, the date on which his employment will end (the "Termination Date"). As consideration for Mr. Seiders' one-year non-competition and non-solicitation covenants, release of claims and other undertakings in the Agreement, and consistent with the terms of CDI's Executive Severance Program

CDI will pay to Mr. Seiders during the one-year period after the Termination Date:

  • (1) an amount equal to his current annual base salary ($286,666);
  • (2) up to $15,000 in outplacement services.
  • In addition, during the one-year period after the Termination Date:
  • (a) if Mr. Seiders elects to continue paying premiums under CDI's group medical insurance plan pursuant to the plan's continuation coverage provisions, CDI will continue to pay the same portion of his insurance premiums as it was previously paying; and
    (b) CDI will continue to provide basic life insurance coverage to Mr. Seiders. Should Mr. Seiders obtain other employment, CDI will have the right to cease any additional severance payments, outplacement services fees, or medical or life insurance benefits for the period following Mr. Seiders' attainment of other employment.

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