Executive Cash Compensation and Award Targets Under Annual Incentive Plan for Named Officers
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Summary
This document outlines the base salaries and annual bonus targets for the CEO, CFO, and four other top executives of the company. Salaries are reviewed and may be increased each March. Each executive is also eligible for an annual bonus, with target percentages of their salary specified for each individual. One executive's salary is listed in British pounds, with the U.S. dollar equivalent subject to change. The agreement sets clear compensation and incentive targets for these key officers.
EX-10.7 8 execcashcompandtargets.htm EXECUTIVE CASH COMPENSATION AND AWARD TARGETS execcashcompandtargets.htm
Exhibit 10.7
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 | $700,000 |
| Rodney Underdown | $321,402 |
| Ronald Bryan | $263,200 |
| Gerald Bucan | $267,750 |
| Keith Clark | $312,000 |
| David Goadby | £191,073* |
* 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 | 50% |
| Ronald Bryan | 50% |
| Gerald Bucan | 50% |
| Keith Clark | 50% |
| David Goadby | 45% |
