2006 Salary and Bonus Arrangements for Executive Officers of [Company Name]

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the 2006 base salaries and target bonus percentages for four executive officers of the company, including the President and CEO, two Executive Vice Presidents, and the Senior Vice President and CFO. It specifies each executive's annual salary and the percentage of that salary targeted for bonuses. Additionally, it notes a guaranteed 2005 bonus for one executive who joined the company that year. The agreement sets compensation expectations for these key officers for 2006.

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EX-10.2 3 ex10-2.txt Exhibit 10.2 SALARY AND BONUS ARRANGEMENTS WITH CERTAIN EXECUTIVE OFFICERS The following 2006 base salaries and target bonus percentages were approved on February 9, 2006. 2006 2006 2005 Base Bonus Bonus Name and Title Salary Target* Payment - ----------------- ------ ------ ------- Joseph W. McGrath $950,000 100% - President and Chief Executive Officer Peter Blackmore $600,000 85% $224,658** Executive Vice President Janet B. Wallace $500,000 75% - Executive Vice President Janet B. Haugen $525,000 85% - Senior Vice President and Chief Financial Officer - ------------------------------------------------- *Bonus targets are expressed as a percentage of base salary ** Mr. Blackmore joined the Company as an Executive Vice President in February 2005. In connection with his employment, he was guaranteed a bonus in the amount of $224,658 for 2005.