Compensation Schedule for Named Executive Officers for Fiscal 2007

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the annual base salaries and bonus awards for the company's top executives for fiscal year 2007. The named officers include the Chairman, President, and other senior executives. Salaries remained unchanged from the previous year, while bonuses were determined by formulas based on company-wide or division-specific performance, and may be adjusted downward at the Compensation Committee's discretion. The agreement ensures transparency in executive compensation and sets clear criteria for bonus calculations.

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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.