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The Company pays an annual management fee of $1.0 million to
certain affiliates of THL. In return for the annual management
fee, THL, and certain of its affiliates, provide consulting
and management advisory services. This agreement expires in
2005. Several of the Company’s equity investors were underwriters
to the Company’s May 2001 stock offering for which the
Company paid approximately $9.9 million in underwriters’
discounts from the proceeds of the stock offering. Additionally,
one of the Company’s equity investors is a financial institution
that provides financing to the Company.
The Company is a party to a rental and service agreement with
Latona Associates Inc. (which is controlled by a stockholder
of the Company) under which the Company provides office space
and certain building administrative services. The Company received
$250,000 under the agreement for each of the three years ended
December 31, 2002, 2001 and 2000. The Company made contributions
of $1.7 million and $0.7 million to the Winthrop Foundation
(the “Foundation”) in 2002 and 2001, respectively.
The Foundation is a charitable private foundation that makes
charitable contributions on behalf of the Company and its employees
and has common board members with the Company. The Company is
not obligated to make future contributions to the Foundation. |
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