2006 NAMED EXECUTIVEOFFICER SALARY, STOCK OPTIONSAND BONUS TABLE
EXHIBIT (10)T
2006 NAMED EXECUTIVE OFFICER
SALARY, STOCK OPTIONS AND BONUS TABLE
NEO Table
The table below sets forth (i) base salaries established for the 2006 fiscal year for the Company’s Chief Executive Officer during 2005 and the next four most-highly compensated executive officers who were serving in those capacities at December 31, 2005 (the “NEOs”); (ii) stock options granted for the 2006 fiscal year for the NEOs, which are listed in the table as 2005 grants; and (iii) bonuses paid to the NEOs for the 2005 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.
| Name and Principal |
| Salary |
| Option Grant |
| Bonus | ||||||||||
| Position |
| Year |
| Amount |
| Year |
| Initial |
| Reloads |
| Year |
| Amount | ||
| Douglas M. Baker, Jr., |
| 2006 |
| $ | 800,000 |
| 2005 |
| 303,000 |
| 23,499 |
| 2005 |
| $ | 1,260,000 |
| President and Chief |
| 2005 |
| $ | 700,000 |
| 2004 |
| 314,000 |
| 0 |
| 2004 |
| $ | 850,000 |
| Executive Officer |
| 2004 |
| $ | 625,000 |
| 2003 |
| 220,000 |
| 0 |
| 2003 |
| $ | 400,000 |
| Stephen D. Newlin, |
| 2006 |
| $ | 500,000 |
| 2005 |
| 60,500 |
| 0 |
| 2005 |
| $ | 412,600 |
| President – Industrial |
| 2005 |
| $ | 474,250 |
| 2004 |
| 54,100 |
| 0 |
| 2004 |
| $ | 375,000 |
| Sector(1) |
| 2004 |
| $ | 457,500 |
| 2003 |
| 100,000 |
| 0 |
| 2003 |
| $ | 112,500 |
| Steven L. Fritze,Executive |
| 2006 |
| $ | 420,000 |
| 2005 |
| 83,200 |
| 0 |
| 2005 |
| $ | 325,000 |
| Vice President and Chief |
| 2005 |
| $ | 380,000 |
| 2004 |
| 88,200 |
| 0 |
| 2004 |
| $ | 371,000 |
| Financial Officer |
| 2004 |
| $ | 345,500 |
| 2003 |
| 100,000 |
| 0 |
| 2003 |
| $ | 250,000 |
| James A. Miller, Executive |
| 2006 |
| $ | 350,000 |
| 2005 |
| 50,400 |
| 0 |
| 2005 |
| $ | 270,000 |
| Vice President – Industrial |
| 2005 |
| $ | 315,000 |
| 2004 |
| 54,100 |
| 0 |
| 2004 |
| $ | 200,000 |
| Sector |
| 2004 |
| $ | 303,333 |
| 2003 |
| 65,000 |
| 0 |
| 2003 |
| $ | 102,900 |
| Lawrence T. Bell, Senior |
| 2006 |
| $ | 342,000 |
| 2005 |
| 50,400 |
| 95,377 |
| 2005 |
| $ | 254,000 |
| Vice President, General |
| 2005 |
| $ | 330,000 |
| 2004 |
| 54,100 |
| 0 |
| 2004 |
| $ | 307,500 |
| Counsel and Secretary |
| 2004 |
| $ | 315,000 |
| 2003 |
| 70,000 |
| 0 |
| 2003 |
| $ | 202,800 |
(1) Mr. Newlin resigned from the Company effective February 20, 2006.
