Penn Traffic, Chairman Kelly Terminate Agreement

SYRACUSE, N.Y. -- Now that it has named a new chief executive officer, Penn Traffic Co. here said it would end a management consultant contract with its chairman, Robert J. Kelly.

SYRACUSE, N.Y. -- Now that it has named a new chief executive officer, Penn Traffic Co. here said it would end a management consultant contract with its chairman, Robert J. Kelly. According to government filings, Kelly entered into an advisory contract in late June, performing services customarily performed by a CEO, that could have earned him as much as $120,000 every three months. That deal was made approximately three months before former CEO Robert Chapman resigned from the company

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