2006 Target Bonuses Under SEMCO Energy, Inc. Short-Term Incentive Plan for Named Executive Officers

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

SEMCO Energy, Inc. has set target bonuses for its named executive officers for the fiscal year ending December 31, 2006, under its Short-Term Incentive Plan. The bonuses, expressed as a percentage of each officer's base salary, may be adjusted based on individual performance and the company's financial results. The plan covers the President and CEO, Senior Vice Presidents, and Vice President, with target bonuses ranging from 30% to 60% of base salary.

Read More Arrow
EX-10.18.1 3 k02906exv10w18w1.txt 2006 TARGET BONUSES UNDER THE COMPANY'S SHORT-TERM INCENTIVE PLAN EXHIBIT 10.18.1 2006 TARGET BONUSES UNDER SEMCO ENERGY, INC.'S SHORT-TERM INCENTIVE PLAN FOR THE FISCAL YEAR ENDING DECEMBER 31, 2006 The following are the target bonuses for the fiscal year ending December 31, 2006 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 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 Short-Term Incentive Plan:
TARGET BONUS THAT MAY BE GRANTED UNDER STIP NAME AND POSITION FOR 2006 ----------------- --------------------- George A. Schreiber, Jr. President and CEO 60% of Base Salary Michael V. Palmeri Senior Vice President, Treasurer and CFO 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 35% of Base Salary Mark T. Prendeville Vice President and Deputy General Counsel 30% of Base Salary