ALFA CORPORATION SALARY ADJUSTMENTS FOR NAMED EXECUTIVE OFFICERS
EX-10.(B) 3 dex10b.htm SALARY ADJUSTMENTS FOR NAMED EXECUTIVE OFFICERS Salary Adjustments for Named Executive Officers
Exhibit 10(b)
ALFA CORPORATION
SALARY ADJUSTMENTS FOR NAMED EXECUTIVE OFFICERS
Set forth below are the 2008 annual salaries for the named executive officers that will be reimbursed by the Company to Mutual under a Management and Operating Agreement between the companies:
| 2008 Salary1 | |||
| Jerry A. Newby | $ | 352,613 | |
| C. Lee Ellis | $ | 243,990 | |
| Herman T. Watts | $ | 174,685 | |
| Stephen G. Rutledge | $ | 168,814 | |
| Thomas E. Bryant | $ | 172,057 | |
| 1 | The 2008 salary figures assume that the percentage of salary reimbursed by the Company to Mutual will remain at the same level as 2007. The amounts reimbursed to Mutual by the Company could change in the future. |
