Summary of Bonus Award to Charles Margiotta upon Retirement from Rayonier Inc.
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Summary
Rayonier Inc. agreed to pay Charles Margiotta, its retiring Senior Vice President of Real Estate, a bonus of $245,000 upon his retirement on June 30, 2013. This payment was based on his achievement of specific performance objectives and replaces any bonus he would have received under the company's 2013 Annual Corporate Bonus Plan.
EX-10.1 2 rayonierex1012q2013.htm SUMMARY OF BONUS AWARD Rayonier.EX10.1 2Q2013
EXHIBIT 10.1
SUMMARY OF BONUS AWARD TO CHARLES MARGIOTTA
Upon the retirement of Charles Margiotta, Senior Vice President, Real Estate of Rayonier Inc. (the “Company”) on June 30, 2013, as previously reported, the Company authorized a bonus payment to Mr. Margiotta in the amount of $245,000 based on the achievement of pre-determined individual performance objectives. The payment was in lieu of consideration for any award under the Company's 2013 Annual Corporate Bonus Plan.
