On April 11, 2014, ThermoEnergy Corporation announced that James F. Wood, President, Chief Executive Officer and the Chairman of Board of Directors, submitted to Board of Directors a letter providing 30 days' notice, in accordance with the terms of his Executive Employment Agreement dated December 10, 2012, of his resignation as President and Chief Executive Officer, effective May 11, 2014. Effective as of May 11, 2014, Mr. Wood will also resign as a member of the company's Board of Directors and as a director, officer or manager of each of the company's subsidiaries or affiliates.