2011 Executive Cash Compensation and Annual Incentive Plan Summary for Key Officers
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Summary
This document outlines the 2011 base salaries and annual bonus targets for the CEO, CFO, and four top executive officers of the company. It specifies each executive's salary, with one salary listed in British pounds, and details the percentage of salary that serves as the target for annual incentive bonuses. Salary adjustments are reviewed annually in March and take effect on April 1, 2011. The agreement ensures transparency in executive compensation and bonus eligibility for the specified year.
EX-10.2 3 ex10_2.htm EXHIBIT 10.2 ex10_2.htm
Exhibit 10.2
2011 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 four most highly compensated executive officers. Salary increases are determined annually in March and effective April 1, 2011:
| Executive Officers | Current Salary |
| Angelo Brisimitzakis | $800,000 |
| Rodney Underdown | $364,534 |
| Ronald Bryan | $284,572 |
| Gerald Bucan | $300,416 |
| Keith Clark | $347,256 |
| David Goadby | £201,724* |
* 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 four most highly compensated executive officers are as shown in the following table.
| Executive Officers | Target Percentage |
| Angelo Brisimitzakis | 90% |
| Rodney Underdown | 55% |
| Ronald Bryan | 50% |
| Gerald Bucan | 50% |
| Keith Clark | 55% |
| David Goadby | 50% |
