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Leadership Change
9 Months Ended
Sep. 30, 2018
Leadership Change  
Leadership Change

13. Leadership Change

On February 9, 2018, the Company announced the retirement of the Company’s President. The Company entered into a Separation Agreement with the President, and pursuant to the terms of this agreement, the Company incurred a total cost of $1.8 million which was recorded to “Selling, operating and administrative expenses” in the accompanying Condensed Consolidated Statements of Income during the nine months ended September 30, 2018, which will be paid over a 39-month period.