Compensation Arrangements for Certain Named Executive Officers of [Company Name]

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation arrangements for several executive officers of the company, excluding the President and CEO, who is covered by a separate agreement. The named officers are employed at will, with base salaries specified for each as of February 15, 2008. Their compensation and employment status can be changed at any time by the Board of Directors. These executives are also eligible for annual bonuses and equity awards under the company's incentive plans, subject to the terms of those plans.

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EX-10.35 4 c24030exv10w35.htm COMPENSATION ARRANGEMENTS exv10w35  

Exhibit 10.35
Compensation Arrangements for
Certain Named Executive Officers
Set forth below is a summary of the compensation arrangements of the executive officers to be named in the Company’s 2008 Proxy Statement for the Annual Meeting of Stockholders, other than Mr. Jon P. Vrabely, the Company’s President and Chief Executive Officer, who is covered by a written employment agreement filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ended December 31, 2007 (the “Form 10-K”).
Each of the executive officers named below is an employee at will whose compensation and employment status may be changed at any time in the discretion of the Company’s Board of Directors.
Base Salaries. On February 15, 2008, the base salaries of the executive officers are as set forth below:
         
Name and Position   Base Salary Amount
David L. Fleisher, Vice President, Chief Financial Officer and Secretary
   $ 300,000  
Greg W. Gurley, Vice President, Product Management and Marketing
   $ 225,000  
Brian D. Robinson, Vice President, Chief Information Officer
   $ 199,500  
Richard A. Baltz, Vice President, Internal Audit
   $ 190,000  
Base salaries are adjusted from time to time. Any such adjustments are approved by the Management Organization and Compensation Committee.
Bonuses and Equity Awards. These executive officers are also eligible to participate in the Company’s annual incentive compensation plans and equity incentive compensation plans, as provided in the terms of such plans. Such plans, and any forms of awards thereunder providing for material terms, are included as exhibits to the Form 10-K.