Leucadia National Corporation Executive Compensation Disclosure (2011)
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Summary
Leucadia National Corporation's Board of Directors approved 2011 salary increases and 2010 discretionary cash bonuses for its executive officers, excluding the Chairman and President. The compensation details for Thomas E. Mara, Joseph A. Orlando, and Justin R. Wheeler are specified, including both base salary and bonus amounts. Bonuses for the Chairman and President will be determined after the 2011 annual shareholders meeting. This document outlines the company's ongoing policy of performance-based executive compensation.
EX-10.1 2 mm01-2111_8ke101.htm EX.10.1 - INFORMATION CONCERNING EXECUTIVE COMPENSATION mm01-2111_8ke101.htm
Exhibit 10.1
Information Concerning Executive Compensation
It has been the policy of Leucadia National Corporation (the “Company”) since the current management took over in 1978 to emphasize performance based compensation through the payment of discretionary bonuses.
On January 21, 2011, the Company’s Board of Directors, upon the recommendation of the Compensation Committee in consultation with Ian M. Cumming, Chairman of the Board, and Joseph S. Steinberg, President of the Company, approved annual salary increases (effective January 1, 2011) and discretionary 2010 cash bonuses for each of the Company’s executive officers who wer e included as named executive officers in the Company’s 2010 proxy statement (other than Mr. Cumming and Mr. Steinberg1 ).
| Name | Base Salary in 2011 | Bonus Award for 20102 |
| Thomas E. Mara | $371,000 | $3,610,920 |
| Joseph A. Orlando | $338,000 | $2,809,930 |
| Justin R. Wheeler | $306,000 | $3,849,000 |
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1 Consistent with past practice, bonuses for 2010 for Messrs. Cumming and Steinberg will be considered by the Compensation Committee of the Board of Directors at the Board of Directors meeting to be held following the Company’s 2011 annual meeting of shareholders.
2Includes an annual holiday bonus paid to all employees based on a percentage of salary of $10,920 for Mr. Mara, $9,930 for Mr. Orlando and $9,000 for Mr. Wheeler.
