2013 Executive Cash Compensation and Annual Incentive Plan Summary for Key Officers
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Summary
This document outlines the 2013 base salaries and annual bonus targets for the CEO, CFO, and three other top executives of the company. It lists each executive's salary and the percentage of their salary that serves as their target bonus under the company's Annual Incentive Plan. Salary adjustments are made annually, effective April 1, and one executive's salary is denominated in British pounds. The agreement sets clear compensation and bonus expectations for these key officers for the year.
EX-10.2 2 ex10_2.htm EXHIBIT 10.2 ex10_2.htm
Exhibit 10.2
2013 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, 2013:
| Executive Officers | Current Salary |
| | |
| Francis Malecha | $725,000 |
| Rodney Underdown | $412,000 |
| Gerald Bucan | $318,711 |
| Keith Clark | $364,827 |
| David Goadby | £211,932* |
* Salary is denominated in pounds, so U.S. dollar equivalent may vary.
Executive officers are also eligible to receive a bonus each year under the Company’s 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 | 100% |
| Rodney Underdown | 55% |
| Gerald Bucan | 55% |
| Keith Clark | 55% |
| David Goadby | 50% |
