Compensation Adjustment Agreement for President and CEO David J. Anderson
This agreement documents the Compensation Committee's approval to increase the annual base salary of David J. Anderson, the President and CEO, to $550,000. The salary increase is retroactive to January 1, 2005, with higher monthly payments starting April 1, 2005. Mr. Anderson also received a one-time lump sum payment covering the salary increase for January, February, and March 2005.
EXHIBIT 10.1(bw)
On February 22, 2005, the Company’s Compensation Committee approved an increase in the annual base salary for David J. Anderson, the Company’s President and Chief Executive Officer to $550,000. The increase was made retroactive to January 1, 2005, with the increase in monthly payments taking effect on April 1, 2005, and a one time lump sum payment was made to Mr. Anderson equal to the monthly increase for the three months of January, February and March of 2005.
