Restoration Hardware, Inc. Summary of Compensation of Named Executive Officers for Fiscal Year2006
Exhibit 10.3
Restoration Hardware, Inc.
Summary of Compensation of Named Executive Officers for Fiscal Year 2006
The current base salaries for the current named executive officers of the Company (as set forth in the Company’s proxy statement filed on June 4, 2007) are as follows:
| Name | Title | Annual Salary | |||
| Gary G. Friedman | President, Chief Executive Officer and Chairman | $ | 650,000 | ||
| Ken Dunaj | Chief Operating Officer | $ | 500,000 | ||
| Chris Newman | Senior Vice President and Chief Financial Officer | $ | 395,000 | ||
| Bonnie McConnell-Orofino | Chief Merchandising Officer | $ | 370,000 | ||
| Vivian C. Macdonald | Vice President, Corporate Controller | $ | 262,500 | ||
As previously disclosed, the Company also has approved fiscal year 2007 minimum, target and maximum level bonus objectives for the Management Incentive Plan. The amount of the award of any cash bonuses under the Company’s Management Incentive Plan for fiscal year 2007 performance will be based on the Company’s achievement of specified results with respect to EBT for fiscal year 2007. If the minimum, target or maximum performance objectives are met, participants will receive a bonus payment under the Management Incentive Plan, with the specific amount that such participant receives dependent on his or her individual performance. The amount that could be received by the Company’s President and Chief Executive Officer under the Management Incentive Plan ranges from between 20% of base salary to up to 200% of base salary, with a target bonus amount of 100% of base salary. For the Company’s other named executive officers, the amount such officers could receive under the Management Incentive Plan ranges from 4% to 8% of base salary to up to 80% to 120% of base salary, with target bonus amounts ranging from 30% to 50% of base salary.
