Touchstone President to Be Paid $205,000

TouchStone Software Corp. Will pay its president and chief executive, Kenneth S. Forbes III, $205,000 this year to turn around the struggling Huntington Beach maker of computer diagnostic software. Since Forbes’ arrival in August, the company has cut 11 people from its staff, reducing total employment to 21. The layoffs have been part of a continual downsizing and refocusing for the company, which had 58 employees in September 1997. TouchStone’s former CEO, Lawrence S. Jordan, was making $169,167 annually when he resigned in July as part of a corporate restructuring, according to a proxy statement filed with the Securities and Exchange Commission on Friday. Jordan, 54, remains chairman of the company’s board of directors. Jordan will continue to be paid $15,000 a month through march, as part of Touchstone reporting $778,000 in restructuring charges earlier this year. He also is paid $2,000 a month for his role as board chairman. Jordan also has the option of buying 50,000 shares of company stock at 69 cents a share. On Friday, TouchStone stock rose 13 cents, closing at 97 cents a share.