Frozen Food Express Industries, Inc. 2007 Executive Dividend and Compensation Arrangements
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Summary
Frozen Food Express Industries, Inc. approved compensation for three executive officers under its 2005 Stock Incentive Plan. On February 14, 2007, the Board's independent directors resolved to pay specified cash bonuses and restricted stock awards to the President/CEO, Senior Vice President/COO, and Senior Vice President/CFO. The agreement details the amounts each executive will receive in cash and restricted stock, formalizing their compensation for the period.
EX-10.21 4 exh1021.htm DIVIDEND AND COMPENSATION ARRANGEMENTS exh1021.htm
EXHIBIT 10.21
Dividend and Compensation Arrangements
On February 14, 2007, the Registrant’s Compensation Committee recommended and the Registrant’s Board of Directors by unanimous vote of non-employee independent directors resolved that the below-listed Named Executive Officers will be paid the amounts indicated in the table below pursuant to the Frozen Food Express Industries, Inc. 2005 Stock Incentive Plan.
| Executive Name and Position | Cash Bonus | Restricted Stock Bonus | Restricted Stock Shares | |||||||||
| Stoney M. Stubbs, Jr., President and Chief Executive Officer | $ | 118,611 | $ | 59,306 | 6,146 | |||||||
| S. Russell Stubbs, Senior Vice President and Chief Operations Officer | 60,650 | 30,325 | 3,142 | |||||||||
| Thomas G. Yetter, Senior Vice President and Chief Financial Officer | 60,043 | 30,021 | 3,111 | |||||||||
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