Ex-Savvis CEO Rob McCormick–he of the $241K Scores tab–isn’t walking away with the boatloads of cash you’d expect, given the market disgraced-executive compensation levels these days, says Footnoted.org. From the addendum to the 10K:
McCormick agrees that he will fully indemnify SAVVIS from any liability incurred by SAVVIS arising from or in connection with the disputed American Express charges incurred in October 2003, including, but not limited to, liability in connection with the lawsuits filed against SAVVIS by American Express and by 333 East 60th Street, Inc. d/b/a Scores Showroom and NYC Banquet and Catering Services.
On the upside, McCormick gets extra points for getting Scores into an SEC filing.
Clueless Man in Topless Bar [MSNBC]