Amended Salary Arrangement with Executive Officers (Jeffrey T. Schlarbaum and Donald S. Doody)

Contract Categories: Human Resources › Salary Continuation Agreements
Summary

This agreement outlines changes to the base salaries of two executive officers of the company, effective January 1, 2012. Jeffrey T. Schlarbaum, President, will have his salary increased to $254,500, which includes a merit increase and an adjustment for automobile expenses. Donald S. Doody, Executive Vice President, will have his salary increased to $207,600. The document specifies the new salary amounts and the reasons for the adjustments.

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EX-10.4 2 v300960_ex10-4.htm AMENDED SALARY ARRANGEMENT

 

Exhibit 10.4

 

 

AMENDED SALARY ARRANGEMENT WITH EXECUTIVE OFFICERS

 

Effective January 1, 2012 the base salary of Jeffrey T. Schlarbaum, President of the Company, was increased from $236,250 to $254,500. The increase includes a merit increase of $12,250 and an adjustment of $6,000 in lieu of automobile expense allowances previously provided.

 

Effective January 1, 2012 the base salary of Donald S. Doody, Executive Vice President of the Company, was increased from $197,400 to $207,600.

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