Fiscal 2006 Executive Officer Compensation Summary for Collegiate Pacific
This document outlines the base salaries and bonus eligibility for executive officers of Collegiate Pacific for fiscal year 2006, starting July 1, 2005. It lists the annual base salaries for each executive and specifies that, except for Mike Blumenfeld and Tevis Martin, executives may earn a bonus of up to 25% of their base salary if the company's EBITDA reaches $15 million, plus an additional 8% for each $1 million in EBITDA above that, up to $18 million.
Exhibit 10.1
FISCAL 2006 SUMMARY OF EXECUTIVE OFFICER COMPENSATION
| Executive Officer | Title | New Base Salary | ||||||
Michael J. Blumenfeld | Chief Executive Officer | $ | 375,000 | |||||
Adam Blumenfeld | President | $ | 375,000 | |||||
William R. Estill | Chief Financial Officer | $ | 245,000 | |||||
| Executive Vice | ||||||||
| President, U.S. | ||||||||
Tevis Martin | Operations | $ | 175,000 | |||||
Arthur J. Coerver | Chief Operating Officer | $ | 152,000 | |||||
Harvey Rothenberg | Vice President, Marketing | $ | 145,000 | |||||
Commencing as of the first day of fiscal 2006 (July 1, 2005), each of the executive officers, other than Mike Blumenfeld and Tevis Martin, will be eligible to receive a bonus of (a) up to 25% of his base salary if Collegiate Pacific’s earnings before interest, taxes, depreciation and amortization (“EBITDA”) for fiscal 2006 is at least $15,000,000 and (b) up at an additional 8% of his base salary for each $1,000,000 of additional EBITDA of Collegiate Pacific for fiscal 2006 up to a maximum fiscal 2006 EBITDA of $18,000,000.
