HomeFed Corporation Executive Compensation Approval for 2015
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Summary
HomeFed Corporation's Compensation Committee approved annual salary increases effective January 1, 2015, and discretionary cash bonuses for 2014 for its executive officers named in the 2014 proxy statement. The agreement lists the new base salaries and bonus amounts for President and CEO Paul J. Borden, Vice Presidents John Kent Aden, Jr. and Christian E. Foulger, and Vice President, Treasurer, and Controller Erin N. Ruhe. Bonuses include holiday bonuses for each executive and a tax gross-up bonus for Mr. Borden. This document formalizes the compensation decisions for these executives.
EX-10.1 2 mm01-1415_8ke101.htm EX.10.1 - INFORMATION CONCERNING EXECUTIVE COMPENSATION mm01-1415_8ke101.htm
Exhibit 10.1
Information Concerning Executive Compensation
On January 09, 2015, the Compensation Committee of HomeFed Corporation (the “Company”) approved annual salary increases (effective January 1, 2015) and discretionary 2014 cash bonuses for each of the Company’s executive officers who were included as named executive officers in the Company’s 2014 proxy statement.
| Name and Title | Base Salary in 2015 | Bonus Award for 20141 |
| Paul J. Bord | $375,596 | $285,3172 |
| President and | ||
| Chief Executive Officer | ||
| John Kent Aden, Jr. | $307,292 | $208,950 |
| Vice President | ||
| Christian E. Foulger | $236,173 | $206,879 |
| Vice President | ||
| Erin N. Ruhe | $225,358 | $181,564 |
| 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 $10,940 for Mr. Borden, $8,950 for Mr. Aden, $6,879 for Mr. Foulger and $6,564 for Ms. Ruhe.
2 Also includes a gross-up bonus of $49,377 for Mr. Borden as reimbursement for taxes payable on travel, commuting and lodging expenses.
