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Hendrickson. Later, the department expanded to approximately 50
people.
In general, Henry considered Hendrickson to be competent,
diligent, and responsible. Henry believed Hendrickson would
apprise him of important financial matters within the ambit of
the accounting department. Also, Henry socialized with
Hendrickson once every couple of months, as well as having lunch
with him on a regular basis. Otherwise, Henry did not regularly
socialize with the other officers and directors of IMED.
IMED also maintained outside auditors, Arthur Young & Co.
(Arthur Young), which performed audits of the financial
statements at the end of the fiscal year. From 1974 until 1980,
the principal contact at Arthur Young was Kim Rutledge
(Rutledge), an accountant. Rutledge primarily had contact with
Hendrickson and his predecessor at IMED.
On March 1, 1981, Henry became a member of IMED's board of
directors (the board) and remained in that position until August
1982. When Henry joined the board, Cramer, Boynton, Monaghan,
and two other individuals were on it. On occasion, prior to
joining the board, Henry would present financial statements for
review and brief the directors on company operations.
IMED Stock Options
IMED instituted a stock option plan that it granted to
certain employees. The stock options granted were intended to
enable employees to participate in IMED's growth and prosperity.
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