2007 Target Bonuses Agreement under SEMCO Energy, Inc. Amended and Restated Short-Term Incentive Plan
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Summary
SEMCO Energy, Inc. has set target bonus percentages for its named executive officers for the fiscal year ending December 31, 2007, under its Amended and Restated Short-Term Incentive Plan. The bonuses, based on a percentage of each executive's base salary, may be adjusted depending on individual performance and the company's financial results. The agreement lists the specific target bonus percentages for the President and CEO, Senior Vice Presidents, and other key executives.
EX-10.18.7 2 k12871exv10w18w7.htm 2007 TARGET BONUSES exv10w18w7
EXHIBIT 10.18.7
2007 TARGET BONUSES UNDER THE SEMCO ENERGY, INC.
AMENDED AND RESTATED SHORT-TERM INCENTIVE PLAN
AMENDED AND RESTATED SHORT-TERM INCENTIVE PLAN
The following are the target bonuses for the fiscal year ending December 31, 2007 for each of the named executive officers (as defined in Item 402(a)(3) of Regulation S-K) of SEMCO Energy, Inc. (the “Company”) under the Company’s Amended and Restated Short-Term Incentive Plan, which may be increased or decreased depending on each named executive officer’s performance and the corporate financial results of the Company, as permitted under the Amended and Restated Short-Term Incentive Plan:
| Target Bonus That | ||
| May be Granted Under | ||
| Amended & Restated | ||
| Name and Position | STIP for 2007 | |
George A. Schreiber, Jr. President and Chief Executive Officer | 60% of Base Salary | |
Michael V. Palmeri Senior Vice President, Treasurer and Chief Financial Officer | 40% of Base Salary | |
Eugene N. Dubay Senior Vice President of Operations | 50% of Base Salary | |
Peter F. Clark Senior Vice President and General Counsel | 40% of Base Salary | |
Lance S. Smotherman Senior Vice President of Human Resources and Administration | 40% of Base Salary |
