Summary of Executive Compensation Notification for Other Executive Officers (2012)
This document outlines the 2012 compensation arrangements for two executive officers, Bill W. Wheat (Executive Vice President and CFO) and Stacey H. Dwyer (Executive Vice President and Treasurer). Each will receive an annual base salary of $250,000, with the possibility of discretionary bonuses based on performance. Both executives may participate in deferred compensation plans, including voluntary income deferrals and a company retirement benefit. If employed at the end of the fiscal year, the company will set aside an amount equal to 10% of their base salary, which will accrue earnings for future years.
Exhibit 10.4
Summary of Executive Compensation Notification
Other Executive Officers
2012 Fiscal Year Compensation of Certain Other Named Executive Officers.
The Board of Directors also established and approved the 2012 fiscal year annual base salaries of our other named executive officers. The salaries and other compensation approved are as set forth below in Table II.
| Table II | ||||||
| Name | Office | Annual Base Salary (2012 Fiscal Year) | Discretionary Bonus Plan (2012 Fiscal Year) | |||
| Bill W. Wheat | Executive Vice President and CFO | $250,000 | See Note II | |||
| Stacey H. Dwyer | Executive Vice President and Treasurer | $250,000 | See Note II |
Note II:
The Board of Directors may award discretionary bonuses to the executives listed in Table II above based on the performance of these executives. In addition, Mr. Wheat and Ms. Dwyer may participate in two separate deferred compensation plans. The first plan allows the executive to make voluntary income deferrals. The second plan is a promise by the Company to pay retirement benefits to the executive. Furthermore, if the executive is employed by the Company on the last day of the current fiscal year (for example September 30, 2012), then the Company will establish a liability to him or her equal to 10% of his or her annual base salary as of first day of the current fiscal year (for example October 1, 2011). This liability will accrue earnings in future years at a rate established by the administrative committee.
