Erie Indemnity Company directors have extended with modifcations the the employment contracts for the company’s seven principal executive officers.
The modifications include a reduction in the severance benefits for the executive vice presidents and a senior vice president. The terms of the contracts will be four years for the president and chief executive officer and three years for the other officers.
The amended contracts will become effective on December 12, 2005 for president and chief executive officer Jeffrey A. Ludrof; senior executive vice president Jan R. Van Gorder; executive vice president Philip A. Garcia; executive vice president Thomas B. Morgan; executive vice president John J. Brinling Jr.; executive vice president Michael J. Krahe; and senior vice president Douglas F. Ziegler.
Erie Indemnity Company provides management services to the member companies of the Erie Insurance Group, which includes the Erie Insurance Exchange, Flagship City Insurance Company, Erie Insurance Company, Erie Insurance Property and Casualty Company, Erie Insurance Company of New York and Erie Family Life Insurance Company.
Was this article valuable?
Here are more articles you may enjoy.
China Accuses US of Orchestrating $13 Billion Bitcoin Hack 
Business Moves: Trucordia Acquires 5 Local Agencies in 4 States 
FEMA Chief Resigns After Six Months, Criticism Over Floods 
What Progressive and GEICO Q3 Results Reveal About Auto Insurance Profit, Growth 
