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November 13, 2006

Getty's CTO has left the company

Posted by Kim Peterson at 2:12 PM

Getty's chief technology officer, Patrick Flynn, left the company last Tuesday as part of the restructuring the company is undertaking to improve its bottom line. It doesn't look like that position will stay open.

In an SEC filing today, Getty said Flynn's departure was an "involuntary termination" under the terms of his 2004 employment agreement.

Here's what that agreement says happens in the case of an involuntary termination:

-- Getty will pay Flynn his salary and accrued bonus through the date of termination.

-- Getty will also pay Flynn a severance equal to his salary plus 50 percent of his bonus.

Flynn's 2005 salary was $307,500 and his bonus was $127,720, according to Getty's most recent proxy.

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