2006 Executive Compensation Schedule for Named Officers

Summary

This document outlines the 2006 compensation plan for the company's named executive officers, listing each officer's base salary and target bonus as a percentage of their 2005 base salary. The agreement specifies the roles, base salaries, and bonus amounts for six executives, including the President and CEO, COO/CFO, and other senior officers. The compensation structure is designed to incentivize performance and align executive pay with company goals for the year 2006.

EX-10.11 2 k012506_8kexhibit1011.htm COMPENSATION FOR THE NAMED EXECUTIVE OFFICERS Exhibit 10.11 Compensation for Named Executive Officers in 2006
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EXHIBIT 10.1

Compensation for the Named Executive Officers

 

2006

Target Bonus

As a

2006

Perentage of

2005

Base Salary

Base Salary

Bonus Amount


Daniel D. Rosenthal

$

605,000

120

%

$

950,400

President and Chief Executive Officer

Thomas E. Prince

$

495,000

100

%

$

445,500

Chief Operating Officer and Chief Financial Officer

John R. Gatzke

$

412,500

100

%

$

495,000

Executive Vice President, Chief Lending Officer

Cliff J. Piscitelli

$

320,000

100

%

$

382,800

Executive Vice President, Director of Secondary

Marketing

Jon A. MacDonald

$

315,000

75

%

$

135,000

Executive Vice President, General Counsel and

Corporate Secretary

Edward A. Luther

$

225,000

70

%

$

198,660

Senior Vice President, Director of Major Loans


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