2005 Base Salary Summary for Named Executive Officers of the Company

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the annual base salaries for the company's named executive officers, as approved by the Compensation Committee of the Board of Directors, effective August 1, 2005. The listed officers include the Chairman and CEO, Executive Vice Presidents, and Vice President/Treasurer. The salary adjustments are based on performance and market data. The Compensation Committee reviews and sets these salaries each year, and the figures may differ from those disclosed in other company filings.

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EX-10.11 14 y11705exv10w11.htm EX-10.11: SUMMARY OF BASE COMPENSATION EXHIBIT 10.11  

Exhibit 10.11
Summary of Base Salaries for 2005 Named Executive Officers
Effective August 1, 2005, the Compensation Committee of the Company’s Board of Directors approved increases to the annual base salaries of the named executive officers, after a review of performance and competitive market data.
                 
    Year    
    (as of    
Name and Position   August 1)   Base Salary
Craig A. Davis
Chairman and Chief
     2005     $ 913,750  
Executive Officer
     2004     $ 850,000  
 
                
Gerald J. Kitchen
Executive Vice President, General Counsel,
     2005     $ 307,500  
Chief Administrative Officer and Secretary
     2004     $ 291,500  
 
                
David W. Beckley
Executive Vice President and
     2005     $ 305,000  
Chief Financial Officer
     2004     $ 289,000  
 
                
E. Jack Gates
Executive Vice President and
     2005     $ 342,500  
Chief Operating Officer
     2004     $ 325,000  
 
                
Daniel J. Krofcheck
Vice President and
     2005     $ 212,500  
Treasurer
     2004     $ 202,000  
The Compensation Committee of the Company’s Board of Directors approves annual base salaries for executive officers of the Company each August 1. Accordingly, summary compensation for named executive officers disclosed by the Company in its reports filed with the Securities and Exchange Commission may differ from the amounts set forth above. Information related to the other elements of total compensation for these named executive officers was previously disclosed in the 2005 Proxy Statement filed July 15, 2005.