2015 Executive Cash Compensation and Annual Incentive Plan Summary for Key Officers
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Summary
This document outlines the 2015 base salaries and annual bonus targets for the CEO, CFO, and three other top executives of the company. It specifies each executive's salary and the percentage of their salary that serves as a target for annual bonuses under the Management Annual Incentive Plan. Salary adjustments are reviewed annually in March and take effect on April 1, 2015. The agreement ensures transparency in executive compensation and sets clear targets for performance-based incentives.
EX-10.1 2 ex10_1.htm EXHIBIT 10.1
Exhibit 10.1
Exhibit 10.1
2015 Summary of Executive Cash Compensation
and Award Targets Under the Annual Incentive Plan
The following table sets forth the current base salaries provided for the Company’s CEO, CFO and three most highly compensated executive officers. Salary increases are determined annually in March and effective April 1, 2015:
| Executive Officers | Current Salary | |||
| Francis Malecha | $ | 762,200 | ||
| Matthew Foulston | $ | 450,000 | ||
| Steven Berger | $ | 374,544 | ||
| Keith Espelien | $ | 318,240 | ||
| Robert Miller | $ | 315,000 | ||
Executive officers are also eligible to receive a bonus each year under the Company’s Management Annual Incentive Plan. The target percentages (based on percentage of salary) under this plan for the Company’s CEO, CFO and three most highly compensated executive officers are as shown in the following table.
| Executive Officers | Target Percentage |
| Francis Malecha | 105% |
| Matthew Foulston | 65% |
| Steven Berger | 50% |
| Keith Espelien | 60% |
| Robert Miller | 60% |
