HomeFed Corporation Executive Compensation Approval for 2013

Summary

HomeFed Corporation's Compensation Committee approved salary increases for 2013 and discretionary cash bonuses for 2012 for its executive officers, including John Kent Aden, Jr., Paul J. Borden, Christian E. Foulger, and Erin N. Ruhe. The agreement outlines the new base salaries effective January 1, 2013, and the bonus amounts awarded for 2012, including specific holiday and other allowances. This document formalizes the compensation decisions for the company's top executives.

EX-10.1 2 mm12-2812_8ke101.htm EX.10.1 - INFORMATION CONCERNING EXECUTIVE COMPENSATION. mm12-2812_8ke101.htm
Exhibit 10.1
 

 
Information Concerning Executive Compensation
 
On December 24, 2012, the Compensation Committee of HomeFed Corporation (the “Company”) approved annual salary increases (effective January 1, 2013) and discretionary 2012 cash bonuses for each of the Company’s executive officers who were included as named executive officers in the Company’s 2012 proxy statement and Mr. John Kent Aden, Jr. who was elected as a Vice President of the Company in May 2012.


 
Name and Title
 
Base Salary in 2013
   
Bonus Award for 20121
 
               
               
 
John Kent Aden, Jr.
  $ 231,750     $ 182,904 2
 
Vice President
               
                   
 
Paul J. Borden
  $ 292,172     $ 283,333 3
 
President and Chief Executive Officer
 
               
                   
 
Christian E. Foulger
  $ 152,974     $ 154,456  
 
Vice President
               
                   
 
Erin N. Ruhe
  $ 152,974     $ 129,456  
 
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 $4,154 for Mr. Aden, $8,510 for Mr. Borden, $4,456 for Mr. Foulger and $4,456 for Ms. Ruhe.
 
2Also includes auto allowance bonus of $3,750 for Mr. Aden.
 
3 Also includes a gross-up bonus of $49,823 for Mr. Borden as reimbursement for taxes payable on travel, commuting and lodging expenses.