Board of Directors Resolution Approving Executive Bonus Award for Robert Lannert

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

The Board of Directors has approved a bonus payment of $220,948 to executive officer Robert Lannert for 2005. This payment corrects an earlier oversight in calculating his 2004 annual incentive award, which was understated by the same amount. The resolution ensures Mr. Lannert receives the full incentive compensation he was entitled to for his performance in 2004.

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EX-10.59 5 ex10-59.htm EX10.59 ex10.59

EXHIBIT 10.59


Board of Directors Resolution
Executive Officer Award




WHEREAS, there was an oversight in the determination of Robert Lannert’s target annual incentive award percentage for fiscal 2004, and as a result of such oversight Mr. Lannert’s target annual incentive award, on which the Board based Mr. Lannert’s actual 2004 Annual Incentive Award payout, was understated by $220,948;

NOW, THEREFORE, BE IT RESOLVED, that the Board of Directors hereby approves the payment of a bonus award to Mr. Lannert for 2005 in the amount of $220,948.
































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