Executive Compensation Summary for Fiscal Year Ended August 31, 2007
This document outlines the compensation paid to executive officers of the company for the fiscal year ending August 31, 2007. It details the salaries, bonuses, company 401(k) contributions, and, for the CEO, life insurance premiums paid by the company. The named executives are Robert A. Placek (Chairman, President, and CEO), C. Troy Woodbury, Jr. (Treasurer and CFO), and Ned L. Mountain (President and COO of WCI). The agreement specifies the amounts each executive received in each category for the year.
Exhibit 10.8
Description of Executive Compensation
For the fiscal year ended August 31, 2007 compensation paid to the executive officers consisted of their individual salaries, a bonus paid equally to all employees in December 2006, Company matching 401K contributions, and for the Chief Executive officer, life insurance premiums paid by the Company. These amounts were as follows:
| Name and Position | Salary | Bonus | 401k Contribution | Life Insurance Premium | Total | ||||||||||
| Robert A. Placek | $ | 179,078 | $ | 500 | $ | 10,173 | $ | 2,883 | $ | 192,634 | |||||
| C. Troy Woodbury, Jr. | $ | 131,424 | $ | 500 | $ | 10,173 | $ | — | $ | 142,097 | |||||
| Ned L. Mountain | $ | 140,000 | $ | 500 | $ | 10,173 | $ | — | $ | 150,673 | |||||
