Summary of Executive Cash Compensation and Award Targets Under Annual Incentive Plan (Exhibit 10.5)
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Summary
This document outlines the base salaries and annual bonus targets for the CEO, CFO, and four top executive officers of the company. It specifies each executive's current salary and the target percentage of their salary that may be awarded as a bonus under the company's Annual Incentive Plan. Salary adjustments are reviewed annually in March, and one executive's salary is denominated in pounds. The agreement sets clear compensation and bonus structures for these key executives.
EX-10.5 5 executiveawardtargets.htm EXECUTIVE AWARD TARGETS executiveawardtargets.htm
EXECUTIVE CASH COMPENSATION AND AWARD TARGETS
Exhibit 10.5
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.
| Executive Officers | Current Salary |
| Angelo Brisimitzakis | $750,000 |
| Rodney Underdown | $340,686 |
| Ronald Bryan | $278,992 |
| Gerald Bucan | $294,525 |
| Keith Clark | $330,720 |
| David Goadby | £196,804* |
* 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 | 50% |
| David Goadby | 45% |
