Exhibit 10.16
SUMMARY SHEET
OF
2005 COMPENSATION
Director Compensation
Directors and committee chairs who are employees receive no separate
compensation for Board service. Non-employee directors will receive the
following for their service on the Board in 2005:
o An annual retainer of $26,000 for serving on the Board.
o An annual fee for serving as Chairman of a Committee. These fees are as
follows: $5,000 Audit Committee Chairman; $3,000 Compensation Committee
Chairman; and $2,500 Corporate Governance and Nominating Committee
Chairman.
o A fee of $2,500 for each Board of Directors meeting attended in person.
o A fee of $1,000 for each Committee meeting attended in person. The Company
also pays its non-employee directors if they participate in Board and
Committee meetings by telephone.
In addition, all directors receive lifetime flight benefits, comprised of space
available personal and family flight passes and/or positive space travel by the
director and the director's family.
Named Executive Officers
The executive officers of the Company serve at the discretion of the Board of
Directors. From time to time, the Compensation Committee of the Board of
Directors reviews and determines the salaries that are paid to the Company's
executive officers. The following are the current base salaries for the
Company's Chief Executive Officer and its other four most highly compensated
executive officers (the "Named Executive Officers"):
- ------------------------------------------------------- ------------------------
J. George Mikelsons $619,125
Chairman and Chief Executive Officer of ATA
Holdings Corp.
- ------------------------------------------------------- ------------------------
James W. Hlavacek $315,000
Vice Chairman
- ------------------------------------------------------- ------------------------
Gilbert Viets, Executive Vice President $315,000
And Chief Financial Officer
- ------------------------------------------------------- ------------------------
John G. Denison, Chief Executive Officer of ATA $315,000
Airlines Inc.
- ------------------------------------------------------- ------------------------
John Graber, Senior Vice President of Flight $238,500
Operations and Maintenance
- ------------------------------------------------------- ------------------------
Some of the Named Executive Officers are eligible to participate in the
Company's 1996 Key Incentive Stock Plan for Employees (the "1996 Plan") and the
2000 Incentive Stock Plan for Key Employees (the "2000 Plan"). A copy of the
1996 plan is filed as an exhibit to the Company's Registration Statement on Form
S-8 dated June 1997 (File No. 333-29715) and a copy of the 2000 Plan is filed as
Exhibit A to Amtran, Inc.s' Proxy Statement dated April 5, 2004 (File No.
000-21642).
The Company also entered in to an employment agreement with John Denison. The
agreement provides for payment of the sum of $25,000 for the period from January
20, 2005 (the date Mr. Denison's employment with the Company commenced) to
February 20, 2005 and a beginning salary, commencing February 21, 2005 of
$315,000 per year. Mr. Denison is also eligible to be considered for a
discretionary bonus upon the occurrence of certain events. A copy of Mr.
Denison's employment agreement is filed as Exhibit 10.1 to the Company's Current
Report on Form 8-K dated March 7, 2005.
The Company also provides matching contributions to the accounts of the Named
Executive Officers under its 401(k) Plan.