Schedule of 2005 Executive Officer Salaries and Bonuses for OHI
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Summary
This document outlines the 2005 annual salaries and 2004 cash bonuses for executive officers of OHI, as approved by the Compensation Committee of the Board of Directors. The listed executives received salary increases and performance-based bonuses, determined by criteria set in July 2004. The bonuses were awarded because the company met or exceeded targeted financial performance levels for the fiscal year ending December 31, 2004.
EX-10.32 4 ex10_32.htm SCHEDULE OF 2005 OHI EXECUTIVE OFFICERS SALARIES AND BONUSES Schedule of 2005 OHI Executive Officers Salaries and Bonuses
Exhibit 10.32
SCHEDULE OF 2005 EXECUTIVE SALARIES
Executive Salaries and Bonuses. On January 13, 2005, 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 | $ 495,000 | |
| Daniel J. Booth | $ 305,000 | |
| Robert O. Stephenson | $ 245,000 | |
| R. Lee Crabill | $ 237,000 |
Also, the Compensation Committee approved 2004 cash bonus payments to executive officers in the following amounts set forth below opposite the name of such officer:
| C. Taylor Pickett | $ 480,000 | |
| Daniel J. Booth | $ 147,500 | |
| Robert O. Stephenson | $ 117,500 | |
| R. Lee Crabill | $ 115,000 |
These bonus amounts were determined in accordance with performance-based criteria established by the Compensation Committee in July 2004, pursuant to which the executives would be paid 100% percent of the bonus amounts available under their respective employment agreements if we achieved an adjusted funds from operations per share of common stock for the fiscal year ended December 31, 2004 equal to or in excess of certain targeted levels.
