Katy Industries, Inc. Executive Officer Compensation Arrangements (April 2006)

Contract Categories: Human Resources › Compensation Agreements
Summary

Katy Industries, Inc. has set the base salaries for its named executive officers as of April 1, 2006, following approval by the Compensation Committee. The agreement outlines the specific annual salaries for five executives and states that each is eligible for a cash bonus under the company's Executive Bonus Plan. Additional benefits include automobile and other allowances, club memberships, life insurance premiums, and matching contributions to the company's 401(k) plan.

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EX-10.21 4 c03863exv10w21.htm EXECUTIVE OFFICER COMPENSATION ARRANGEMENTS exv10w21  

Exhibit 10.21
Katy Industries, Inc.
Executive Officer Compensation Arrangements
     The base salaries as of April 1, 2006 for the named executive officers of Katy Industries, Inc. (the “Company”) as approved at the March 28, 2006 meeting of the Compensation Committee of the Company’s Board of Directors, are as follows:
         
Anthony T. Castor III
   $ 525,000  
Amir Rosenthal
   $ 332,500  
David S. Rahilly
   $ 250,000  
Keith Mills
   $ 235,000  
Robert A. Gail
   $ 205,000  
     As part of his or her annual compensation, each of the named executive officers is also eligible for a cash bonus in accordance with the terms of the Katy Industries, Inc. Executive Bonus Plan. In addition to the foregoing, the Company pays automobile and other allowances, certain club memberships, all or a portion of the premiums for group term life insurance policies for each of the executive officers and contributes matching amounts to each of the executives under Katy’s 401(k) plan.