HomeFed Corporation Executive Compensation Approval for 2017
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Summary
HomeFed Corporation's Compensation Committee approved annual salary increases, effective January 1, 2017, and discretionary 2016 cash bonuses for its executive officers named in the 2016 proxy statement. The agreement lists the new base salaries and bonus awards for Paul J. Borden (President and CEO), John Kent Aden, Jr. (Vice President), Christian E. Foulger (Vice President), and Erin N. Ruhe (Vice President, Treasurer, and Controller). Bonuses include holiday bonuses and, for Mr. Borden, a tax gross-up for certain expenses. This document formalizes the compensation decisions for these executives.
EX-10.1 2 ex10_1.htm EXHIBIT 10.1
Exhibit 10.1
Information Concerning Executive Compensation
On January 06, 2017, the Compensation Committee of HomeFed Corporation (the “Company”) approved annual salary increases (effective January 1, 2017) and discretionary 2016 cash bonuses for each of the Company’s executive officers who were included as named executive officers in the Company’s 2016 proxy statement.
| Name and Title | Base Salary in 2017 | Bonus Award for 20161 | ||||||
| Paul J. Borden | $ | 390,770 | $ | 254,2322 | | |||
| President and | ||||||||
| Chief Executive Officer | ||||||||
| John Kent Aden, Jr. | $ | 319,707 | $ | 209,403 | ||||
| Vice President | ||||||||
| Christian E. Foulger | $ | 245,714 | $ | 207,227 | ||||
| Vice President | ||||||||
| Erin N. Ruhe | $ | 234,462 | $ | 206,896 | ||||
| Vice President, | ||||||||
| Treasurer and Controller | ||||||||
1 Includes a holiday bonus paid to each of the named executive officers based on a percentage of salary of $11,493 for Mr. Borden, $9,403 for Mr. Aden, $7,227 for Mr. Foulger and $6,896 for Ms. Ruhe.
2 Also includes a gross-up bonus of $42,739 for Mr. Borden as reimbursement for taxes payable on travel, commuting and lodging expenses.
