Summary of Named Executive Officer’s Salary Adjustment for Thomas J. Wilson (2005)
This document outlines the salary adjustment for Thomas J. Wilson, who was elected President and Chief Operating Officer of the company effective June 1, 2005. His annual base salary was increased from $702,000 to $800,000, as approved by the Board of Directors based on the Compensation and Succession Committee's recommendation. The Board retains the right to change this salary at any time.
Exhibit 10.1
Summary of Named Executive Officer’s Salary for 2005
On May 17, 2005, Thomas J. Wilson was elected President and Chief Operating Officer of the registrant, effective as of June 1, 2005. In connection with that election, the registrant’s Board of Directors, upon recommendation from the Compensation and Succession Committee, increased Mr. Wilson’s annual base salary, as of June 1, 2005, to $800,000 from $702,000. This salary may be changed at any time at the discretion of the Board.
