Summary of Compensatory Arrangements with Executive Officers
Exhibit 10.12
Summary of Compensatory Arrangements with Executive Officers
In December 2004, the compensation committee of the board of directors approved a schedule of the following fiscal year 2005 base salaries for each of our named executive officers:
| Name and Principal Position | Base Salary | ||
| Michael F. Neidorff Chairman and Chief Executive Officer | $ | 850,000 | |
| Joseph P. Drozda, Jr., M.D. Executive Vice President, Operations | $ | 380,000 | |
| William N. Scheffel Senior Vice President, Specialty Companies | $ | 285,000 | |
| Lisa M. Wilson Senior Vice President, Investor Relations | $ | 400,000 | |
| Karey L. Witty Senior Vice President, Chief Financial Officer, Secretary and Treasurer | $ | 300,000 | |
In July 2005, the compensation committee approved an increase in the base salary of Mr. Scheffel to $360,000 and an increase in the base salary of Mr. Witty to $340,000.
