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USD ($)
USD ($) / shares
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<div align="justify" style="font-size: 10pt; margin-top: 10pt"><b>NOTE 13. Subsequent Events</b>
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On April 4, 2011, Ms. Jill D. Smith, Chief Executive Officer of the Company, terminated her
employment, concurrent with the commencement of employment of Jeffrey R. Tarr as President and CEO.
The provisions in Ms. Smith’s Amended and Restated Employment agreement resulted in a modification
in the option and stock awards that she previously received. This modification included continued
vesting of her awards through the end of her non-compete agreement with an extension of the
exercise period of 90 days beyond the end date of her non-compete agreement with the Company. This
modification will result in a $5.1 million non-cash charge to stock compensation expense during the
second quarter.
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During the first quarter of 2011, the Company received approval from the National Oceanic and
Atmospheric Administration (NOAA) to raise the operating orbit of the QuickBird satellite. The
orbital adjustment commenced on March 21, 2011, and was completed on April 7, 2011. The QuickBird
satellite is now operating at an orbital altitude of 482 kilometers, an increase from its prior
orbit altitude of 450 kilometers. We anticipate that the new orbit altitude will result in an extension of the anticipated
useful life of the QuickBird satellite.
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<!-- Begin Block Tagged NotefalsefalsefalsefalsefalseOtherus-types:textBlockItemTypestringDescribes disclosed significant events or transactions that occurred after the balance sheet date, but before the issuance of the financial statements. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business.Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
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