EXHIBIT (10)T
2009 NAMED EXECUTIVE
OFFICER
SUMMARY OF BASE SALARY, BONUS
AWARD OPPORTUNITIES,
AND EXECUTIVE BENEFITS AND
PERQUISITES
Base Salary
The table below sets forth the base salaries
established for the 2009 fiscal year for the Company’s
Principal Executive Officer and Principal Financial Officer and the
next three most-highly compensated executive officers who were
serving in those capacities at December 31, 2008 (the
“NEOs”).
|
Name and Principal Position
|
|
Amount
|
|
|
Douglas M. Baker, Jr.
Chairman of the Board, President
and
Chief Executive Officer
|
|
$
|
1,000,000
|
|
|
Steven L. Fritze
Chief Financial Officer
|
|
$
|
500,000
|
|
|
James A. Miller
President Institutional
North America Sector
|
|
$
|
437,500
|
|
|
Thomas W. Handley
President Industrial and Services
North America Sector
|
|
$
|
425,000
|
|
|
Lawrence T. Bell
General Counsel and Secretary
|
|
$
|
400,000
|
|
Bonus Award Opportunities
The Company maintains annual cash incentive
programs for executives referred to as the Management Incentive
Plan or MIP and Management Performance Incentive Plan or
MPIP. The Company’s stockholders approved the current
version of the MPIP in 2004, an annual incentive plan under which
awards should qualify as performance based under Internal Revenue
Code Section 162(m). The Company is asking its
shareholders to re-approve the MPIP at the 2009 Annual Meeting of
Shareholders. On February 25, 2009, as required under
the terms of the MPIP, the Compensation Committee of the Board
(“Committee”) selected each of the NEOs to
part
