Summary of Executive Officer and Director Compensation Arrangements for Hercules

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation arrangements for executive officers and directors of Hercules. It specifies that executive officer base salaries, including a $200,000 salary for Randal R. Reed, are set as referenced in prior SEC filings. Bonuses for executive officers in 2008 will depend on meeting corporate objectives determined by the Compensation Committee, though specific targets and award levels are not yet finalized. Information about director fees is also referenced in previous SEC filings. The agreement provides an overview of compensation structure but defers many details to other documents.

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EX-10.18 3 h54292exv10w18.htm SCHEDULE OF EXECUTIVE OFFICER AND DIRECTOR COMPENSATION ARRANGEMENTS exv10w18  

Exhibit 10.18
Summary of Executive Officer and Director Compensation Arrangements
Executive Officer Compensation
     Information regarding base salaries of the named executive officers of Hercules currently employed by the company is incorporated herein by reference to Item 5.02 of Hercules’ Current Report on Form 8-K filed with the SEC on July 17, 2007 and Item 5.02 of Hercules’ Current Report on Form 8-K filed with the SEC on April 24, 2007. The current base salary of Randal R. Reed is $200,000. Under Hercules’ annual incentive compensation program for 2008, bonuses for executive officers will be paid based on achievement of corporate objectives established by the Compensation Committee. The specific objectives and related targets under the plan for 2008, as well as the threshold, target and maximum award opportunities for executive officers, have not yet been approved by the Committee.
Director Fees
     Information regarding director fees is incorporated herein by reference to Item 5.02 of Hercules’ Current Report on Form 8-K filed with the SEC on July 17, 2007.