CEO Variable Pay Ranges Under 2008 Annual Incentive Program for Thomas E. Gardner

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the variable pay structure for Thomas E. Gardner, the Chairman, President, and CEO, under the company's 2008 Annual Incentive Program. The Board of Directors approved payout ranges based on the achievement of corporate performance objectives: 25% payout at threshold, 50% at target, and 75% at stretch performance levels. The agreement sets clear performance-based compensation terms for the CEO for the year 2008.

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EX-10.52 2 o40415exv10w52.htm EXHIBIT 10.52 exv10w52  

Exhibit 10.52
CEO Variable Pay Ranges Under 2008 Annual Incentive Program
On March 13, 2008, on the recommendation of our Human Resources and Compensation Committee, the independent members of our Board of Directors approved, in respect of our Chairman, President and Chief Executive Officer, Thomas E. Gardner, variable pay payout ranges under our 2008 Annual Incentive Program of 25% at threshold achievement of the 2008 corporate performance objectives, 50% at Target achievement and 75% at Stretch achievement.