SUMMARY COMPENSATION TABLE
The following table sets forth the compensation paid or accrued by the Company to the Company’s Chief Executive Officer and to each
of the two most highly compensated executive officers of the Company for services rendered to the Company during the two fiscal years ended December 31, 2011:
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| Name and Principle Position |
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Period |
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Salary (1) |
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Option
Awards (2) |
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Non-Equity
Incentive Plan
Compensation (3) |
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All Other
Compensation |
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Total |
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| Mark C. Layton
Chairman, Chief Executive Officer |
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2011
2010 |
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$
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607,536
569,993 |
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$
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314,910
128,778 |
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$
$ |
32,290
29,000 |
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$
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49,455
41,015 |
(4)
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$
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1,004,191
768,786 |
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| Michael C. Willoughby
President – Chief Information Officer |
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2011
2010 |
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$
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437,862
345,558 |
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$
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178,926
157,395 |
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$
$ |
32,290
29,000 |
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$
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16,221
18,294 |
(5)
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$
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665,299
550,247 |
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| Thomas J. Madden
Executive Vice President – Chief Financial Officer |
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2011
2010 |
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$
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392,232
321,483 |
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$
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232,604
128,778 |
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$
$ |
32,290
29,000 |
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$
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18,589
31,720 |
(6)
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$
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675,715
510,981 |
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| (1) |
Salary represents base salary earnings |
| (2) |
Options granted have a ten year term and generally vest quarterly over three years of continuous service after the date of grant. The amounts reported in this column
represent the aggregate grant date fair value for stock options granted in each respective year, as calculated under Accounting Standards Codification Topic 718. The assumptions made in calculating the grant date fair value amounts for these stock
options are summarized in Note 5 to the Company’s consolidated financial statements included in its Annual Report on Form 10-K for the year ended December 31, 2011. The amounts in this column do not necessarily correspond to the actual
economic value that may be realized by the Named Executive Officers from the options. |
| (3) |
Represents performance based cash awards paid under the Company’s 2011 Bonus Plan. |
| (4) |
Represents Other Compensation of $22,779 and Perquisites of $26,676. Other Compensation represents life insurance premiums paid by the Company for the benefit of the
Named Executive Officer. Perquisites represent the sum of personal use of automobile expenses and club dues and memberships. |
| (5) |
Represents Other Compensation of $2,484 and Perquisites of $13,737. Other Compensation represents the life insurance premiums paid by the Company for the benefit of the
Named Executive Officer. Perquisites represent the sum of personal use of automobile expenses. |
| (6) |
Represents Other Compensation of $2,539 and Perquisites of $16,050. Other Compensation represents the life insurance premiums paid by the Company for the benefit of the
Named Executive Officer. Perquisites represent the sum of personal use of automobile expenses and club dues and memberships. |
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