HomeFed Corporation Executive Compensation Approval for 2016

Contract Categories: Human Resources › Compensation Agreements
Summary

HomeFed Corporation's Compensation Committee approved annual salary increases effective January 1, 2016, and discretionary cash bonuses for 2015 for its executive officers named in the 2015 proxy statement. The agreement lists the new base salaries and bonus amounts for the President and CEO, as well as three Vice Presidents. Bonuses include holiday bonuses for all named executives and a tax gross-up bonus for the CEO. This document outlines the compensation decisions for the company's top executives for the specified period.

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EX-10.1 2 mm01-0816_8ke101.htm EX.10.1 - INFORMATION CONCERNING EXECUTIVE COMP mm01-0816_8ke101.htm
Exhibit 10.1
 

 
Information Concerning Executive Compensation
 
On January 05, 2016, the Compensation Committee of HomeFed Corporation (the “Company”) approved annual salary increases (effective January 1, 2016) and discretionary 2015 cash bonuses for each of the Company’s executive officers who were included as named executive officers in the Company’s 2015 proxy statement.


 
Name and Title
Base Salary in 2016
  
Bonus Award for 20151
Paul J. Borden
President and
Chief Executive Officer
$383,108
  
$261,8772
       
John Kent Aden, Jr.
Vice President
$313,438
  
$209,219
       
Christian E. Foulger
Vice President
$240,896
  
$207,085
       
Erin N. Ruhe
Vice President,
Treasurer and Controller
$229,865
  
$206,761
 
 
 
 
 
 
 
 
 
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1 Includes a holiday bonus paid to each of the named executive officers based on a percentage of salary of $11,268 for Mr. Borden, $9,219 for Mr. Aden, $7,085 for Mr. Foulger and $6,761 for Ms. Ruhe.

2 Also includes a gross-up bonus of $50,609 for Mr. Borden as reimbursement for taxes payable on travel, commuting and lodging expenses.