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Compensation Practices Fact Sheet



Executive Compensation 
The Company does not have employment agreementsYes
Executive compensation is tied to performance; numeric criteria are disclosedYes
The Company has the ability to clawback incentive compensation.Yes
CEO salary is no more than 2 ½ times salary of next highest paid named executive officerYes

Pay for Performance

Compensation Element

Link to Performance

Base Salary

Base salary increases are linked to individual performance

Annual Cash Incentives

Annual cash incentives are linked to achieving pre-determined Company objectives

Long-Term Incentives

  • Stock options are granted based on individual performance and linked to stock price performance for ten years
  • Performance shares are granted based on predetermined Company objectives over the three-year performance period.

Benefits

The profit sharing plan encourages financial performance that drives increased shareholder value

Ownership Guidelines

The Directors and Officers are subject to ownership guidelines.


Independent Director Compensation Elements

 

Value of April 24, 2013 deferred stock unit grant

$155,169

Annual cash retainer

$ 85,000

  -- Audit Committee chair retainer

$ 20,000

  -- Compensation Committee chair retainer

$ 15,000

  -- Board Affairs and Nominating Committee chair retainer

$ 10,000

  -- Lead Director retainer

$ 20,000

Consistent with the Company’s Matching Gift Program offered to regular employees, each director has the opportunity for a 3 to 1 matching gift contributions not to exceed $7,500 per annum

Varies

Consistent the Company’s Employee Discount Program, each director is eligible for discounts on product purchases

Varies

Rev date 4/23/13