Executive Cash Compensation Summary Sheet for CEO and Key Officers
This document lists the current base salaries and target annual bonus percentages for the CEO and four top executive officers of the company. The executives are eligible for yearly bonuses under the company's 2004 Key Officers Incentive Plan, with specific target percentages applied to their salaries. The agreement outlines the compensation structure but does not specify additional terms or conditions beyond salary and bonus eligibility.
Exhibit 10.5
SUMMARY SHEET FOR EXECUTIVE CASH COMPENSATION
The following table sets forth the current base salaries provided to the Company’s CEO and four most highly compensated executive officers.
| Executive Officer | Current Salary | |
| David S. Haffner | 775,000 | |
| Felix E. Wright | 700,000 | |
| Karl G. Glassman | 620,000 | |
| Jack D. Crusa | 275,000 | |
| Joseph D. Downes, Jr. | 250,000 |
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 CEO and four most highly compensated executive officers are as shown in the following table.
| Executive Officer | Target Percentage | ||
| David S. Haffner | 70 | % | |
| Felix E. Wright | 60 | % | |
| Karl G. Glassman | 60 | % | |
| Jack D. Crusa | 44 | % | |
| Joseph D. Downes, Jr. | 44 | % |
