Summary of Chief Executive Officer Compensation for Phillip G. Norton
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Summary
This document outlines the compensation terms for Phillip G. Norton, the Chief Executive Officer. He receives a $400,000 annual salary and is eligible for cash incentive compensation of up to 50% of his base salary under the Executive Incentive Plan for fiscal years ending March 31, 2009 and 2010. He also receives standard employee benefits such as medical insurance, disability coverage, expense reimbursement, and participation in the 401(k) program. Additional benefits may be provided if his employment is terminated.
EX-10.2 2 ex10_2.htm EXHIBIT10.2 ex10_2.htm
EXHIBIT 10.2
SUMMARY OF CHIEF EXECUTIVE OFFICER COMPENSATION
Our Chief Executive Officer, Phillip G. Norton, receives an annual salary in the amount of $400,000. He is also a participant in our Executive Incentive Plan for the fiscal years ending March 31, 2009 and March 31, 2010. Pursuant to the Executive Incentive Plan, Mr. Norton’s cash incentive compensation for each of those fiscal years can range from 0% to a maximum of 50% of his base salary. Mr. Norton is also entitled to certain other benefits on the same terms as our employees, including medical insurance, death and long-term disability benefits, the reimbursement of employment-related expenses and our 401(k) program. He may also be entitled to additional benefits upon the termination of his employment.
