Summary of Named Executive Officer Compensation for Wolverine Tube, Inc. (2007)
Wolverine Tube, Inc.'s Compensation Committee has set the 2007 annual base salaries for its principal executive and financial officers, as well as other named executive officers. The document lists the specific base salaries for each officer and notes special arrangements for certain individuals. In addition to their salaries, these executives participate in the company's standard benefit and incentive plans, including retirement and equity programs, as detailed in the company's proxy statement and SEC filings.
EXHIBIT 10.15
SUMMARY OF NAMED EXECUTIVE OFFICER COMPENSATION
Current Annual Base Salaries. The Compensation Committee (the “Committee”) of the Board of Directors of Wolverine Tube, Inc. (the “Company”) has approved the following 2007 annual base salaries for the Company’s current principal executive officer and principal financial officer, as well as the other executive officers named in the Company’s proxy statement for the 2007 Annual Meeting of Stockholders who are currently serving as officers of the Company:
| Name and Position | Current Annual Base Salary | |||
| Harold M. Karp President and Chief Operating Officer | $ | 325,000 | ||
| James E. Deason Senior Vice President, Chief Financial Officer and Secretary | $ | 283,700 | ||
| Keith I. Weil Senior Vice President, International and Strategic Development | (1 | ) | ||
| Garry K. Johnson Senior Vice President, Sales | $ | 212,000 | ||
| John Van Gerwen Vice President, Operations | $ | 200,000 | (2) | |
| (1) | Mr. Weil’s base salary rate between February 19, 2007 and August 17, 2007 is $32,745.82 pursuant to a Stay Pay and Separation Agreement entered into on April 30, 2007. |
| (2) | Effective May 1, 2007. |
Other. These executive officers also participate in the Company’s executive and regular benefit plans, programs and arrangements, including retirement and 401(k) plans, equity incentive plans and other plans, programs and arrangements as disclosed in the Company’s proxy statement for the 2007 Annual Meeting of Stockholders and in other exhibits to the Company’s filings with the Securities and Exchange Commission.
