HomeFed Corporation Executive Compensation Approval for 2014
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Summary
HomeFed Corporation's Compensation Committee approved salary increases for 2014 and discretionary cash bonuses for 2013 for its executive officers, including the President and CEO, Vice Presidents, and Treasurer/Controller. The agreement specifies the new base salaries effective January 1, 2014, and the bonus amounts awarded for 2013, including holiday bonuses and a tax gross-up for the CEO. This document outlines the compensation decisions for the company's top executives as disclosed in the 2013 proxy statement.
EX-10.1 2 ex10_1.htm EXHIBIT 10.1
Exhibit 10.1
Exhibit 10.1
Information Concerning Executive Compensation
On December 30, 2013, the Compensation Committee of HomeFed Corporation (the “Company”) approved annual salary increases (effective January 1, 2014) and discretionary 2013 cash bonuses for each of the Company’s executive officers who were included as named executive officers in the Company’s 2013 proxy statement.
| Name and Title | Base Salary in 2014 | Bonus Award for 20131 | ||||||
| Paul J. Borden | $ | 300,937 | $ | 315,208 | 2 | |||
| President and | ||||||||
| Chief Executive Officer | ||||||||
| John Kent Aden, Jr. | $ | 238,703 | $ | 206,953 | ||||
| Vice President | ||||||||
| | ||||||||
| Christian E. Foulger | $ | 157,563 | $ | 204,589 | ||||
| Vice President | ||||||||
| | ||||||||
| Erin N. Ruhe | $ | 157,563 | $ | 179,589 | ||||
| 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 $8,765 for Mr. Borden, $6,953 for Mr. Aden, $4,589 for Mr. Foulger and $4,589 for Ms. Ruhe.
2 Also includes a gross-up bonus of $56,443 for Mr. Borden as reimbursement for taxes payable on travel, commuting and lodging expenses.
