Summary Sheet for Executive Cash Compensation for Principal Officers of the Company
This document outlines the current base salaries and target bonus percentages for the company's principal executive officer, principal financial officer, and three other top executives. It lists both former and current salaries as of April 12, 2007, and specifies that these executives are eligible for annual bonuses under the company's 2004 Key Officers Incentive Plan, with target bonus percentages provided for each officer. The agreement ensures transparency regarding executive compensation and bonus eligibility.
EXHIBIT 10.1
SUMMARY SHEET FOR EXECUTIVE CASH COMPENSATION
The following table sets forth the current base salaries provided to the Company’s principal executive officer, principal financial officer and three most highly compensated executive officers.
| Executive Officer | Former Salary* | Current Salary | ||||
| David S. Haffner | $ | 775,000 | $ | 810,000 | ||
| Matthew C. Flanigan | $ | 300,000 | $ | 326,500 | ||
| Felix E. Wright | $ | 700,000 | $ | 700,000 | ||
| Karl G. Glassman | $ | 620,000 | $ | 648,000 | ||
| Paul R. Hauser | $ | 300,000 | $ | 311,300 | ||
| * | Salaries were adjusted on April 12, 2007. |
Executive officers are also eligible to receive a bonus each year under the Company’s 2004 Key Officers Incentive Plan (filed as Exhibit 10.13 to the Company’s Form 10-K for the year ended December 31, 2005). Bonuses are calculated pursuant to the Award Formula filed as Exhibit 10.2 to the Company’s Form 10-Q for the quarter ended March 31, 2006. The target percentages under this plan for the Company’s principal executive officer, principal financial officer and three most highly compensated executive officers are as shown in the following table.
| Executive Officer | Target Percentage | ||
| David S. Haffner | 70 | % | |
| Matthew C. Flannigan | 40 | % | |
| Felix E. Wright | 60 | % | |
| Karl G. Glassman | 60 | % | |
| Paul R. Hauser | 44 | % |
