2008 Executive Officers Salaries and 2007 Bonuses Approval by Compensation Committee

Contract Categories: Human Resources › Compensation Agreements
Summary

This document records the Compensation Committee's decision to increase the annual salaries of the company's named executive officers for 2008 and to approve cash bonus payments for 2007. The officers and their respective salary and bonus amounts are listed. The changes are made in accordance with the officers' existing employment agreements. The document formalizes the committee's approval of these compensation adjustments.

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EX-10.16 2 ex10_16.htm 2008 OHI EXECUTIVE OFFICERS SALARIES AND 2007 BONUSES ex10_16.htm

 


EXHIBIT 10.16

EXECUTIVE SALARIES AND BONUSES

    On December 13, 2007, the Compensation Committee of our Board of Directors increased the annual salary of our named executive officers, in accordance with the terms and conditions of the respective employment agreements previously filed by us, as follows:

C. Taylor Pickett
$549,500
Daniel J. Booth
$338,500
Robert O. Stephenson
$272,000
R. Lee Crabill
$262,500
Michael D. Ritz
$181,500

Also, the Compensation Committee approved 2007 cash bonus payments to executive officers in the amounts set forth below opposite the name of such officer:

C. Taylor Pickett
$663,125
Daniel J. Booth
$244,875
Robert O. Stephenson
$157,620
R. Lee Crabill
$136,840
Michael D. Ritz
$61,250