2013 Annual Incentive Award Opportunity Chart for MDU Resources Group, Inc. Executives
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Summary
This document outlines the 2013 annual incentive award opportunities for key executives of MDU Resources Group, Inc. It lists each executive's position, base salary, and the threshold, target, and maximum potential incentive awards for the year. The chart also notes that one executive, Steven L. Bietz, has additional performance goals related to safety, which can reduce his award if not met. The chart excludes Terry D. Hildestad due to his retirement. The agreement sets clear financial incentives based on performance for the listed executives.
EX-10.1 3 exhibit-101x2013x03x07.htm MDU RESOURCES EXHIBIT 10.1 WebFilings | exhibit-10.1-2013-03-07
Exhibit 10.1
MDU Resources Group, Inc.
2013 Annual Incentive Award Opportunity Chart
Name | Position | 2013 Base Salary ($) | Threshold ($) | Target ($) | Maximum ($) |
Terry D. Hildestad (1) | Former President and Chief Executive Officer of MDU Resources Group, Inc. | – | – | – | – |
David L. Goodin | President and Chief Executive Officer of MDU Resources Group, Inc. | 625,000 | 290,625 | 937,500 | 1,940,625 |
Doran N. Schwartz | Vice President and Chief Financial Officer of MDU Resources Group, Inc. | 345,000 | 53,475 | 172,500 | 357,075 |
John G. Harp | Chief Executive Officer of Construction Materials & Contracting and Construction Services segments | 495,000 | 269,627 | 643,500 | 1,407,656 |
Steven L. Bietz (2) | President and Chief Executive Officer of Pipeline and Energy Services segment | 367,700 | 59,751 | 239,005 | 478,010 |
J. Kent Wells | President and Chief Executive Officer of Exploration and Production segment | 570,000 | 178,125 | 712,500 | 1,425,000 |
William E. Schneider | Executive Vice President – Bakken Development of MDU Resources Group, Inc. | 447,400 | 90,151 | 290,810 | 601,977 |
(1) Mr. Hildestad received no award due to his retirement on January 3, 2013.
(2) Mr. Bietz also has five performance goals relating to the pipeline and energy services segment’s safety results, and each goal that is not met will reduce his annual incentive award payment by 1%.
