Compensation Arrangements for Executive Officers and Directors of Mace Security International, Inc.
This document outlines the 2005 base salaries and 2004 cash bonuses for key executive officers of Mace Security International, Inc., including the President, COO, CFO, and Chief Accounting Officer. It also details the compensation structure for independent directors, which includes annual fees, per-meeting fees, and occasional stock option awards. The agreement specifies the amounts paid and the roles of the individuals covered.
Exhibit 10.176
Compensatory Arrangements with Certain
Executive Officers and Directors
Set forth below are the base salaries of the named executive officers of Mace Security International, Inc. for the fiscal year as well as the discretionary cash bonuses they were paid for performance in 2004:
| Name | Office | Fiscal 2005 Salary | Cash Bonus | |||||||
Louis D. Paolino, Jr. | President, Chief Executive Officer and Chairman of the Board | $ | 400,000 | $ | 200,000 | |||||
Robert M. Kramer | Chief Operating Officer of the Car and Truck Wash Segment, Executive Vice President, General Counsel and Secretary | $ | 210,000 | $ | — | |||||
Gregory M. Krzemien | Chief Financial Officer and Treasurer | $ | 200,000 | $ | — | |||||
Ronald R. Pirollo | Chief Accounting Officer and Corporate Controller | $ | 160,000 | $ | — | |||||
The cash compensation for Independent Directors is (a) an annual fee of $4,000, prorated for partial years of service, (b) a $750 fee for in-person attendance at each Board meeting, and (c) a $300 fee for in-person attendance at each committee meeting. Additionally, from time to time, the Board has awarded all directors stock options for service on the Board.
