2008 Base Salary Approval for Named Executive Officers of Environmental Power Corporation
Environmental Power Corporation's Compensation Committee approved the 2008 base salaries for its top executives, effective retroactively from May 1, 2008. The named executive officers and their annual base salaries are: Richard E. Kessel (President and CEO) at $318,800, Michael E. Thomas (Senior Vice President, CFO, and Treasurer) at $227,700, and Dennis Haines (Vice President, General Counsel, and Secretary) at $221,000. This decision formalizes the compensation for these key officers for the year 2008.
Exhibit 10.27
2008 Base Salaries for Named Executive Officers
On June 3, 2008, retroactive to May 1, 2008, the Compensation Committee of the Board of Directors of Environmental Power Corporation (the “Company”) approved the following base salaries for each of the Company’s “named executive officers”, as defined in Item 402 of Regulation S-K.
| Name and Title | Base Salary | ||
| Richard E. Kessel | $ | 318,800 | |
| Michael E. Thomas | $ | 227,700 | |
| Dennis Haines | $ | 221,000 | |
