Description of Executive Compensation

EX-10.8 2 dex108.htm EXECUTIVE COMPENSATION FOR THE FISCAL YEAR ENDED AUGUST 31, 2007 Executive Compensation for the Fiscal Year Ended August 31, 2007

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
Chairman of the
Board, President and
Chief Executive Officer;
Director

    $ 179,078    $ 500    $ 10,173    $ 2,883    $ 192,634

C. Troy Woodbury, Jr.
Treasurer and Chief
Financial Officer;
Director

    $ 131,424    $ 500    $ 10,173    $ —      $ 142,097

Ned L. Mountain
President and Chief
Operation Officer of
WCI; Director

    $ 140,000    $ 500    $ 10,173    $ —      $ 150,673