MoneyGram 2005 Annual Report Download - page 10

Table of Contents
including a number of patents for automated money order dispensing systems. We also have patent applications pending in the United States that relate to our
money transfer and PrimeLink technology and business methods.
U.S. trademark registrations are for a term of 10 years and are renewable every 10 years as long as the trademarks are used in the regular course of trade. We
register our trademarks in a number of other countries where we do business. We maintain a portfolio of trademarks representing substantial goodwill in our
businesses. Many of our trademarks, including the MoneyGram®, ExpressPayment®, PrimeLink®, AgentConnect®, DeltaWorks®, and Delta T3® marks and
our globe with arrows logo, have substantial importance and value to our business.
Relationship with Viad
We entered into various agreements with Viad governing our division of liabilities at the spin-off, including a Separation and Distribution Agreement, an
Employee Benefits Agreement and a Tax Sharing Agreement. We also entered into an Interim Services Agreement with Viad under which Viad provided
certain services for us after the spin-off. Pursuant to notices effective September 28, 2005 and March 31, 2006, we will have terminated the provision of a
majority of the services by Viad. The remaining services provided by Viad will terminate on June 30, 2006. In January 2005, we purchased a 50 percent
interest in Viad's corporate aircraft. We purchased the remaining interest in January 2006. See Note 3 of the Notes to the Consolidated Financial Statements.
Employees
At December 31, 2005, we had approximately 1,575 full-time employees in the United States and 140 full-time employees internationally. In addition, we use
contractors to support certain of our domestic and international sales and marketing efforts. None of our employees are represented by a labor union, and we
consider our employee relations to be good.
Executive Officers of the Registrant
Philip W. Milne, age 46, has served as our President and Chief Executive Officer and as a Director of MoneyGram since June 2004. He is also the President
and Chief Executive Officer of MPSI and its predecessor, Travelers Express Company, Inc., our principal operating subsidiary, a position he has held since
1996. Mr. Milne joined Travelers Express Company, Inc. in 1991 and served as General Manager of the official check business from 1991 until early 1992, as
Vice President, General Manager of the Payment Systems segment from 1992 until early 1993, and as Vice President, General Manager of the Retail Payment
Products group from 1993 to 1996.
David J. Parrin, age 51, has served as the Executive Vice President, Chief Financial Officer of MoneyGram since November 2005. Mr. Parrin previously
served as the Vice President and Chief Financial Officer of MoneyGram since June 2004 and Travelers Express Company, Inc. since joining the Company in
June 2002. From 1998 to 2002, he was with the investment firm of Dain Rauscher Corporation (now RBC Dain Rauscher Corporation), serving since 1999 as
Executive Vice President and Chief Financial Officer. From 1994 to 1998, he served as Senior Vice President and Corporate Controller of U.S. Bancorp. Prior
to that, Mr. Parrin spent 17 years with the accounting firm of Ernst & Young LLP, serving most recently as audit partner.
David A. Albright, age 49, has served as Executive Vice President, Chief Information Officer since November 2005. Mr. Albright previously served as Vice
President of Information Technology since joining the Company in May 2000. From June 1983 to May 2000, Mr. Albright was the Director of Information
Technology for Minnegasco, a division of Reliant Energy, Inc., an energy supply and distribution company. Mr. Albright began his career at Gambles, Inc., a
retail company, where he held various technical positions in the Information Technology division from 1974 to 1983.
Jean C. Benson, age 38, has served as the Vice President, Controller of MoneyGram since June 2004. Ms. Benson previously served as the Vice President,
Controller of Travelers Express Company, Inc. since joining the Company in August 2001. From 1994 to 2001, Ms. Benson was at Metris Companies, Inc., a
financial products and services company, serving as Corporate Controller and Executive Vice President of Finance since 1996. Ms. Benson began her career
as an auditor with the accounting firm of Deloitte & Touche LLP from 1990 to 1994.
Theodore F. Ceglia, age 42, has served as Vice President, Treasurer of MoneyGram since June 2004. Mr. Ceglia previously served as Vice President,
Treasurer of Travelers Express Company, Inc. since joining the Company in February 2003. Mr. Ceglia was the Chief Financial Officer of ArrowHead
Capital Management Corp., an asset management firm, from 7