First Data Corporation Executive Officer Salary and Bonus Arrangements (Patmore & Labry)
First Data Corporation's Compensation and Benefits Committee approved changes to compensation for two executive officers. Kimberly S. Patmore, Executive Vice President and Chief Financial Officer, will receive a base salary increase from $575,000 to $600,000 effective October 1, 2007. Additionally, 2008 bonus targets were set at $937,500 for Edward A. Labry III, Senior Executive Vice President, and $600,000 for Kimberly S. Patmore. These arrangements outline the salary and bonus structure for the named executives for the specified period.
EXHIBIT 10.9
Information Regarding Named Executive Officer Salary and Bonus Arrangements
The Compensation and Benefits Committee of the Board of Directors of First Data Corporation (the “Company”) approved: (i) an increase in the base salary for Kimberly S. Patmore, Executive Vice President and Chief Financial Officer of the Company, from $575,000 to $600,000 effective October 1, 2007; and (ii) 2008 bonus targets for Edward A. Labry III, Senior Executive Vice President of the Company, in the amount of $937,500, and for Kimberly S. Patmore, Executive Vice President and Chief Financial Officer of the Company, in the amount of $600,000.
