50 of the Top 250 law firms use our Products every day
2006 BASE
SALARY AND PERFORMANCE INCENTIVE PROGRAM
The
fiscal year 2006 base salaries that will be in effect under certain
of the Executive Employment Agreements attached as separate
exhibits to this Form 10-K will be as follows:
|
|
|
|
|
|
James P.
McClure, Executive Vice President
|
|
$
|
439,300
|
|
George B.
Sundby, Executive Vice President& Chief Financial
Officer
|
|
$
|
350,000
|
|
Steven M.
Zaccagnini, Executive Vice President
|
|
$
|
400,000
|
|
Linda S.
Auwers, Senior Vice President, General Counsel &
Secretary
|
|
$
|
310,745
|
|
The
Board of Directors has also approved the 2006 annual performance
incentive program for executives and key employees, including
Messrs. McClure, Sundby, Zaccagnini and Ms. Auwers
(collectively, the “VPs”). The annual performance
incentive program sets forth the criteria for determining if bonus
payments to the VPs as well as other executives and key employees
will be more or less than target bonus amounts. The bonus target
for each of the VPs ranges between 40 percent and
60 percent of base pay.
Under
this program, Mr. Sundby’s target bonus for fiscal year
2006 will be 50 percent of base salary, with a 30 percent
target based on Company performance (“Company Results”)
and a 20 percent target based on his individual performance in
providing strategic leadership, employee leadership, and compliance
and administration (“Individual Performance”). The
Company Results component of the bonus may range from zero to
200 percent of the target amount. The Company Results
component is based on certain targets for inc
|
