BASE SALARIES BONUSES AND LONG-TERM INCENTIVEAWARDS FOR CERTAIN EXECUTIVE OFFICERS

EX-10.2 3 a05-6400_1ex10d2.htm EX-10.2

EXHIBIT 10.2

 

BASE SALARIES BONUSES AND LONG-TERM INCENTIVE AWARDS

FOR CERTAIN EXECUTIVE OFFICERS

 

 

 

 

 

Percentage

 

 

 

Long-Term
Incentive Award(3)

 

Executive Officer

 

New Base Salary(1)

 

Increase
from 2004(2)

 

2004 Bonus

 

Number of
Shares

 

Value(4)

 

 

 

 

 

 

 

 

 

 

 

 

 

John W. Elias
Chairman, President
& CEO

 

$

350,000

 

0

 

$

210,000

 

8,583

 

$

140,804

 

 

 

 

 

 

 

 

 

 

 

 

 

Michael G. Long
Executive Vice President
& CFO

 

$

200,000

 

12

%

$

109,000

 

4,683

 

$

76,825

 

 

 

 

 

 

 

 

 

 

 

 

 

John O. Tugwell
Executive Vice President
& COO

 

$

205,000

 

12

%

$

111,000

 

4,683

 

$

76,825

 

 

(1)   These base salaries are effective April 1, 2005.

(2)   The percentage is a combination of a merit and promotional increase.

(3)   These were grants of restricted stock made on April 1, 2005 that vest ratably over a three-year period beginning with the first anniversary of the grant date.

(4)   The value of the grant of restricted stock was as of the grant date, April 1, 2005.