Arch Coal, Inc. Executive Incentive Award Levels and Performance Goals Summary
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Summary
This document outlines the incentive award structure for named executive officers of Arch Coal, Inc. for 2006. It specifies the minimum, target, and maximum incentive award percentages of base salary for each executive, including the CEO, COO, CFO, and other senior officers. The awards are based on achieving certain performance goals, such as adjusted EBITDA, earnings per share, safety, and environmental compliance, as approved by the Board of Directors. The agreement sets clear performance-based compensation criteria for the company's top executives.
EX-10.3 3 c02687exv10w3.htm SUMMARY OF AWARD LEVELS AND PERFORMANCE GOALS exv10w3
Exhibit 10.3
Summary of the Award Levels and Performance Goals
for the Named Executive Officers
of Arch Coal, Inc.
for the Named Executive Officers
of Arch Coal, Inc.
| Incentive Award as a Percentage of Base Salary (1) (2) | ||||||||||||
| Name and Title of Executive Officer | Minimum | Target | Maximum | |||||||||
Steven F. Leer | 18.75 | % | 75.00 | % | 150.00 | % | ||||||
President and Chief Executive Officer | ||||||||||||
John W. Eaves | 15.00 | % | 60.00 | % | 120.00 | % | ||||||
Executive Vice President and Chief Operating Officer | ||||||||||||
Robert J. Messey | 12.50 | % | 50.00 | % | 100.00 | % | ||||||
Senior Vice President and Chief Financial Officer | ||||||||||||
Robert G. Jones | 12.50 | % | 50.00 | % | 100.00 | % | ||||||
Vice President — Law, General Counsel and Secretary | ||||||||||||
C. Henry Besten Senior Vice President — Strategic Development | 12.50 | % | 50.00 | % | 100.00 | % | ||||||
| (1) | For 2006, upon the recommendation of the Personnel and Compensation Committee, Board of Directors approved certain performance objectives for the executive officers based on adjusted earnings before interest, taxes, depreciation, and amortization (adjusted EBITDA), earnings per share (EPS), safety, and environmental compliance. |
