Exhibit 10.33
Compensation Arrangements for
Certain Named Executive Officers
Certain Named Executive Officers
Set forth below is a summary of the compensation arrangements of the incumbent executive officers to be named in the Company’s 2009 Proxy Statement for the Annual Meeting of Stockholders, other than Mr. Jon P. Vrabely, the Company’s President and Chief Executive Officer, who is covered by a written employment agreement filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ended December 31, 2008 (the “Form 10-K”).
Each of the executive officers named below is an employee at will whose compensation and employment status may be changed at any time in the discretion of the Company’s Board of Directors.
Base Salaries.On February 15, 2009, the base salaries of the executive officers are as set forth below:
Name and Position | Base Salary Amount | |||
Kenneth L. Young, Vice President, Chief Financial Officer and Secretary | $ | 225,000 | ||
Greg W. Gurley, Vice President, Product Management and Marketing | $ | 225,000 | ||
Brian D. Robinson, Vice President, Chief Information Officer | $ | 199,500 | ||
Richard A. Baltz, Vice President, Internal Audit | $ | 190,000 |
Base salaries are adjusted from time to time. Any such adjustments are approved by the Management Organization and Compensation Committee.
Bonuses and Equity Awards.These executive officers are also eligible to participate in the Company’s annual incentive compensation plans and equity incentive compensation plans, as provided in the terms of such plans. Such plans, and any forms of awards thereunder providing for material terms, are included as exhibits to the Form 10-K.