2006 Executive Compensation and 2005 Bonus Arrangements for Named Officers
This document outlines the 2006 annual salaries and 2005 discretionary cash bonuses for the company's top executive officers, including the Chairman and CEO, President and COO, and other senior executives. The bonuses were awarded based on the company's overall performance and individual executive achievements in 2005. The agreement specifies the compensation amounts for each named officer but does not impose additional obligations or conditions beyond the stated payments.
Exhibit 10.25
Compensatory Arrangements with Certain Executive Officers
Set forth below are the 2006 salaries of the named executive officers and the discretionary cash bonuses paid to the named executive officers for performance in 2005:
| Name and Title |
| Salary for Fiscal |
| Cash Bonus for |
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| Peter M. Carlino |
| $ | 1,400,000 |
| $ | 1,000,000 |
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| Kevin G. DeSanctis |
| $ | 1,000,000 |
| $ | 850,000 |
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| Leonard M. DeAngelo |
| $ | 585,000 |
| $ | 500,000 |
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| William J. Clifford |
| $ | 585,000 |
| $ | 500,000 |
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| Jordan B. Savitch |
| $ | 390,000 |
| $ | 260,000 |
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(1) The bonuses granted were based on the Company’s overall performance, including its earnings, in 2005 and well as the executives’ individual performance in 2005.
