COMPENSATION FOR NAMED EXECUTIVE OFFICERS
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EX-10.1 2 dex101.htm COMPENSATION FOR NAMED EXECUTIVE OFFICERS FOR FISCAL 2007 Compensation for Named Executive Officers for fiscal 2007
EXHIBIT 10.1
COMPENSATION FOR NAMED EXECUTIVE OFFICERS
| Name | Principal Position | Annual Base Salary for Fiscal 2007(1) | Bonus Awards for Fiscal 2007(2) | Total Bonuses Paid for Fiscal 2006 | ||||||
| Joseph W. Luter, III | Chairman of the Board and Chief Executive Officer | $ | 850,000 | (3) | $ | 3,826,518 | ||||
| C. Larry Pope | President and Chief Operating Officer | $ | 700,000 | (3) | $ | 1,913,259 | ||||
| George H. Richter | President of Farmland | $ | 620,000 | (4) | $ | 1,584,499 | ||||
| Jerry H. Godwin | President of Murphy-Brown | $ | 750,000 | (5) | $ | 1,105,552 | ||||
| Richard J.M. Poulson | Executive Vice President and Senior Advisor to the Chairman | $ | 600,000 | (3) | $ | 800,000 | ||||
| (1) | The annual base salaries for fiscal 2007 did not change for the Company’s named executive officers compared to fiscal 2006. |
| (2) | All bonus awards are subject to adjustment downward at the Compensation Committee’s discretion based on an officer’s individual performance. |
| (3) | Derived from a formula based on Company-wide profits during fiscal 2007. |
| (4) | Derived from a formula based on Farmland’s profits during fiscal 2007. |
| (5) | Derived from a formula based on Murphy-Brown’s ability to control hog raising costs. |
