Lifeline Systems, Inc. 2005 Executive Officer Compensation Arrangements

Contract Categories: Human Resources › Compensation Agreements
Summary

Lifeline Systems, Inc. has established compensation arrangements for its executive officers as of March 1, 2005. The agreement outlines each executive's base salary for 2005 and details stock option grants under the 2000 Stock Incentive Plan, which vest over three years. Ronald Feinstein, the CEO, also receives a stock appreciation right that vests quarterly and is settled in stock. Most executives are eligible for the 2005 Officer Incentive Plan, except Leonard E. Wechsler, who receives bonuses under a separate employment agreement.

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EX-10.35 7 dex1035.htm COMPENSATORY ARRANGEMENTS WITH EXECUTIVE OFFIERS Compensatory Arrangements with Executive Offiers

Exhibit 10.35

 

Compensatory Arrangements with Executive Officers

 

As of March 1, 2005, Lifeline Systems, Inc. has the following compensatory arrangements with each of its named executive officers (as defined in Item 402(a)(3) of Regulation S-K) and each of its other executive officers:

 

Name and Title

    2005 Base Salary (1)
    2005 Option Grant (2)
  

Ronald Feinstein, President and Chief Executive Officer

    $ 380,000    (3 )

Ellen Berezin, Vice President, Human Resources

    $ 172,000    14,500  

Mark G. Beucler, Vice President Finance, Chief Financial Officer and Treasurer

    $ 175,000    14,500  

Edward M. Bolesky, Senior Vice President, Customer Care

    $ 196,000    14,500  

Richard M. Reich, Senior Vice President and Chief Information Officer

    $ 212,500    14,500  

Donald G. Strange, Senior Vice President, Sales

    $ 185,000    14,500  

Leonard E. Wechsler, Vice President, Lifeline Systems, Inc. and President, Lifeline Systems Canada

    $ 180,000    14,500  
(1) Each executive officer is also eligible to participate in the 2005 Officer Incentive Plan, with the exception of Leonard E. Wechsler, who receives bonuses pursuant to his employment agreement.
(2) Reflects options granted on February 2, 2005 pursuant to the 2000 Stock Incentive Plan. Each option is exercisable in three equal annual installments beginning on the first anniversary of the date of grant.
(3) On February 2, 2005, the Compensation Committee of the Company’s Board of Directors voted to grant to Mr. Feinstein a stock appreciation right based on 25,000 shares of common stock at a base price of $26.46 per share equivalent. The stock appreciation right vests in 16 quarterly installments commencing on May 2, 2005 and will be settled in stock.