2012 Executive Cash Compensation and Annual Incentive Plan Summary for Senior Officers
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Summary
This document outlines the 2012 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 a target for annual bonuses under the company's incentive plan. Salary adjustments are made annually in March and take effect on April 1, 2012. One executive's salary is denominated in British pounds, which may affect its U.S. dollar equivalent.
EX-10.6 7 ex10_6.htm EXHIBIT 10.6 ex10_6.htm
Exhibit 10.6
2012 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, 2012:
| Executive Officers | Current Salary | |||
| | | |||
| Angelo Brisimitzakis | $ | 824,000 | ||
| Rodney Underdown | $ | 400,000 | ||
| Gerald Bucan | $ | 309,428 | ||
| Keith Clark | $ | 357,674 | ||
| David Goadby | £ | 207,776 | * | |
* 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 | |||
| | | |||
| Angelo Brisimitzakis | 90 | % | ||
| Rodney Underdown | 55 | % | ||
| Gerald Bucan | 50 | % | ||
| Keith Clark | 55 | % | ||
| David Goadby | 50 | % | ||
