Computer Task Group, Incorporated Compensation Arrangements for Named Executive Officers
Computer Task Group, Incorporated outlines the annual base salaries and incentive compensation for its named executive officers as of January 1, 2012. The agreement lists the officers' positions and their respective salaries, and explains that bonuses are awarded based on performance targets such as revenue growth and earnings. All executive officers are at-will employees, and their compensation or employment status can be changed at the discretion of the Board of Directors, subject to any applicable employment agreements.
EXHIBIT 10 (l)
COMPUTER TASK GROUP, INCORPORATED
COMPENSATION ARRANGEMENTS FOR THE NAMED EXECUTIVE OFFICERS
Set forth below is a summary of the annual and incentive compensation paid by Computer Task Group, Incorporated (the Company) to its named executive officers (defined in Regulation S-K Item 402(a)(3)) in their current positions as of the date of the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2011. All of the Company’s executive officers are at-will employees whose compensation and employment status may be changed at any time at the discretion of the Company’s Board of Directors, subject only to the terms of employment agreements, as applicable, between the Company and these executive officers.
Effective January 1, 2012, the named executive officers are scheduled to receive the following annual base salaries in their current positions:
| Current Annual Salary | ||||
| James R. Boldt Chairman, President and Chief Executive Officer | $ | 505,000 | ||
| Brendan M. Harrington Senior Vice President, Chief Financial Officer | $ | 276,000 | ||
| Michael J. Colson Senior Vice President, Solutions | $ | 294,000 | ||
| Filip J.L. Gyde(1) Senior Vice President, General Manager, CTG Europe | $ | 290,805 | ||
| Ted Reynolds Vice President, Health Solutions | $ | 283,000 | ||
Executive officers are also eligible to receive incentive compensation each year primarily based upon the achievement of certain targets. These targets may include specific levels of revenue growth, gross profit, operating income or earnings per share. Bonuses were awarded to the named executives for 2011 as follows:
| 2011 Bonus | ||||
| James R. Boldt | $ | 888,288 | ||
| Brendan M. Harrington | $ | 364,591 | ||
| Michael J. Colson | $ | 382,592 | ||
| Filip J.L. Gyde | $ | 115,205 | ||
| Ted Reynolds | $ | 233,248 | ||
| (1) | Mr. Gyde is paid in Euros. This amount represents his base pay of 224,439 Euros translated into U.S. dollars at the January 1, 2012 exchange rate. |
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