HomeFed Corporation Executive Officer Compensation Approval (2012)

Contract Categories: Human Resources › Compensation Agreements
Summary

HomeFed Corporation's Compensation Committee approved salary increases for 2012 and discretionary cash bonuses for 2011 for its executive officers, including the President and CEO, Vice President, and Vice President/Treasurer/Controller. The agreement specifies the new base salaries and bonus amounts for each executive, including additional holiday bonuses and a tax reimbursement for the CEO. These changes are effective as of January 1, 2012.

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EX-10.1 2 mm01-0912_8ke101.htm EX.10.1 mm01-0912_8ke101.htm
Exhibit 10.1
 

 
Information Concerning Executive Compensation
 
On January 5, 2012, the Compensation Committee of HomeFed Corporation (the “Company”) approved annual salary increases (effective January 1, 2012) and discretionary 2011 cash bonuses for each of the Company’s executive officers who were included as named executive officers in the Company’s 2011 proxy statement.
 

 
Name and Title
Base Salary in 2012
Bonus Award for 20111
  
         
         
 
Paul J. Borden
$283,662
$295,7252
  
 
President and Chief Executive Officer
      
         
 
Curt R. Noland
$183,568
$180,373
  
 
Vice President
      
         
 
Erin N. Ruhe
$148,518
$129,347
  
 
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 $8,302 for Mr. Borden, $5,373 for Mr. Noland and $4,347 for Ms. Ruhe.
 
2 Includes a gross-up bonus of $62,423 for Mr. Borden as reimbursement for taxes payable on travel, commuting and lodging expenses.