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Sapient Corporation Message Board

  • frdwtch frdwtch Oct 29, 2006 6:42 PM Flag

    Attention SAPE Investors

    If you believe that any company officials who manipulated the price of stock options, plundering shareholder wealth, should return their ill-gotten gains to the company for the benefit of shareholders, and that all of their remaining unexcercised stock-option grants should be cancelled, you may contact bgm@brucemurphy.biz for further information.

    On October 17, Sapient announced the resignation of its CEO Jerry Greenberg and CFO Susan Cooke amid an internal options investigation. The technology consulting firm, whose internal probe continues, said its financial statements since 1997 are unreliable and it will need to restate earnings over a still unspecified period of time.

    It looks like Sapient isn�t exactly breaking ties with Greenberg and Cooke. Recently, Sapient filed this with the SEC:

    � On October 19, 2006, in connection with his previously announced resignation, Jerry Greenberg and Sapient entered into a consulting agreement pursuant to which Greenberg agrees to provide consulting services to the company in respect of long-term strategic planning, ongoing client relations and general business development. The consulting agreement is effective as of October 16, 2006, has an initial term of one year and may be terminated by either party upon written notice. Greenberg will be paid $750 per hour for his services under the agreement.

    � On October 23, 2006, in connection with her previously announced resignation, Susan Cooke and the company entered into a consulting agreement pursuant to which Cooke agrees to provide consulting services to assist the company in the transition to the company�s new CFO. The consulting agreement has a one-year term and may be terminated by either party upon written notice. Cooke will be paid an initial retainer of $45,000 that is nonrefundable so long as Cooke continues to provide services under the agreement for 60 days, and $400 per hour for any services performed in excess of 112.5 hours.

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