NAMED EXECUTIVE OFFICER SALARY, STOCK OPTIONS AND BONUS TABLE
EXHIBIT (10)T
NAMED EXECUTIVE OFFICER
SALARY, STOCK OPTIONS AND BONUS TABLE
NEO Table
The table below sets forth (i) base salaries established for the 2005 fiscal year for the individuals who served as the Company’s Chief Executive Officer during 2004 (Allan L. Schuman was CEO from January 1, 2004 to June 30, 2004, and Douglas M. Baker, Jr. from July 1, 2004 to December 31, 2004) and the next four most-highly compensated executive officers who were serving in those capacities at December 31, 2004 (the “NEOs”); (ii) stock options granted for the 2005 fiscal year for the NEOs, which are listed in the table as 2004 grants; and (iii) bonuses paid to the NEOs for the 2004 fiscal year. Although the reload feature was eliminated for option grants subsequent to 2002, certain past grants provided for a one-time automatic grant of a reload stock option if the optionee exercises the original stock option by tendering shares of previously owned Common Stock of the Company. The reload option (i) is for the same number of shares tendered to exercise the original stock option and the number of shares required to be withheld to satisfy minimum statutory tax obligations, (ii) has an exercise price equal to the fair market value of the Company’s Common Stock on the reload grant date, and (iii) is immediately exercisable at any time during the remaining exercise term of the original stock option.
|
|
| Salary |
| Option Grant |
| Bonus |
| ||||||||||
| Name and Principal Position |
| Year |
| Amount |
| Year |
| Initial |
| Reloads |
| Year |
| Amount |
| ||
| Allan L. Schuman, |
| 2005 |
| $ | 500,000 | (1) | 2004 |
| 310,000 | (1) | 711,162 |
| 2004 |
| $ | 1,500,000 | (1) |
|
| 2004 |
| $ | 1,000,000 |
| 2003 |
| 650,000 |
| 0 |
| 2003 |
| $ | 1,662,500 |
| |
|
| 2003 |
| $ | 1,000,000 |
| 2002 |
| 640,000 |
| 0 |
| 2002 |
| $ | 1,500,000 |
| |
| Douglas M. Baker, Jr., |
| 2005 |
| $ | 700,000 |
| 2004 |
| 314,000 |
| 0 |
| 2004 |
| $ | 850,000 |
|
|
| 2004 |
| $ | 625,000 |
| 2003 |
| 220,000 |
| 0 |
| 2003 |
| $ | 400,000 |
| |
|
| 2003 |
| $ | 475,000 |
| 2002 |
| 220,000 |
| 0 |
| 2002 |
| $ | 400,000 |
| |
| John P. Spooner, |
| 2005 |
| $ | 485,000 |
| 2004 |
| 0 |
| 0 |
| 2004 |
| $ | 400,000 |
|
|
| 2004 |
| $ | 485,000 |
| 2003 |
| 100,000 |
| 0 |
| 2003 |
| $ | 330,000 |
| |
|
| 2003 |
| $ | 470,000 |
| 2002 |
| 100,000 |
| 0 |
| 2002 |
| $ | 402,000 |
| |
| Stephen D. Newlin, |
| 2005 |
| $ | 475,000 |
| 2004 |
| 54,100 |
| 0 |
| 2004 |
| $ | 375,000 |
|
|
| 2004 |
| $ | 457,000 |
| 2003 |
| 100,000 |
| 0 |
| 2003 |
| $ | 112,500 |
| |
|
| 2003 |
| $ | 225,000 |
| 2002 |
| N/A |
| N/A |
| 2002 |
| N/A |
| ||
| Steven L. Fritze, Executive |
| 2005 |
| $ | 380,000 |
| 2004 |
| 88,200 |
| 0 |
| 2004 |
| $ | 371,000 |
|
|
| 2004 |
| $ | 345,500 |
| 2003 |
| 100,000 |
| 0 |
| 2003 |
| $ | 250,000 |
| |
|
| 2003 |
| $ | 320,000 |
| 2002 |
| 140,000 |
| 0 |
| 2002 |
| $ | 258,200 |
| |
| Lawrence T. Bell, |
| 2005 |
| $ | 330,000 |
| 2004 |
| 54,100 |
| 0 |
| 2004 |
| $ | 307,500 |
|
|
| 2004 |
| $ | 315,000 |
| 2003 |
| 70,000 |
| 0 |
| 2003 |
| $ | 202,800 |
| |
|
| 2003 |
| $ | 300,000 |
| 2002 |
| 117,000 |
| 0 |
| 2002 |
| $ | 228,600 |
| |
(1) Amount of compensation established pursuant to the terms of transition arrangements dated February 28, 2004 between the Company and Mr. Schuman relating to Mr. Schuman’s retirement on December 31, 2004.
