Schedule of Executive Officer Compensation for Fiscal Year 2006
This document lists the approved salaries for fiscal year 2006 and bonuses for fiscal year 2005 for the company's top executive officers, including the President, Senior Vice Presidents, and Chief Financial Officer. It also states that bonuses for 2006 will be based on performance criteria such as revenues, gross margin, and operating income before taxes. Additional details about executive compensation will be provided in the company's upcoming Proxy Statement.
Exhibit 10.29
| Name and Principal Position | Salary approved for fiscal year 2006 | Bonus approved for fiscal year 2005 |
| E. Van Cullens President and Chief Executive Office |
$470,000 |
$210,000 |
| John C. Clark Senior Vice President of Operations |
252,000 |
162,000 |
| Nicholas C. Hindman, Sr. Treasurer, Secretary, Senior Vice President and Chief Financial Officer |
249,900 |
162,000 |
| William J. Noll Senior Vice President of Research and Development and Chief Technology Officer |
240,350 |
162,000 |
| Timothy J. Reedy Chief Executive Officer of Conference Plus, Inc. |
250,000 |
108,000 |
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In addition, each of the named executive officers is entitled to receive a bonus for fiscal 2006 based on performance criteria which include revenues, gross margin and operating income before taxes.
The Company will provide additional information regarding the compensation of its named executive officers in its Proxy Statement for the 2005 Annual Meeting of Stockholders.
