COMPENSATION ARRANGEMENTS WITH NAMED EXECUTIVE OFFICERS
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EX-10.14 2 dex1014.htm COMPENSATION ARRANGEMENTS Compensation Arrangements
Exhibit 10.14
COMPENSATION ARRANGEMENTS WITH NAMED EXECUTIVE OFFICERS
Named executive officers are compensated under arrangements providing for employment at will.
| Name | Base Salary (effective 1/1/05) | Bonus Amount for 2004 | Target Bonus for 20051 | 2005 Stock Option Awards2 | |||||||
| Dennis Kakures | $ | 400,000 | $ | 284,737 | 86 | % | 55,000 | ||||
| Thomas Sauer | $ | 252,000 | $ | 99,971 | 66 | % | 20,000 | ||||
| Joseph Hanna | $ | 228,000 | $ | 116,156 | 71 | % | 20,000 | ||||
| Randle Rose | $ | 182,000 | $ | 79,692 | 66 | % | 12,500 | ||||
| 1 | Target bonuses are expressed as a percentage of base salary. Target bonuses are awarded for performance and are not guaranteed. |
| 2 | The stock options granted to the named executive officers by the Compensation Committee were granted on January 14, 2005. The stock options have an exercise price per share of $44.35, which was the fair market value at the time of the grant. Each executive officer’s stock options listed above will vest in equal annual installments over a five-year period. |
