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WHEREAS, DONALD HANSON, President of this
corporation, MILTON J. CHASIN, Vice President of
this corporation, GALE SEARING, Secretary of this
corporation, have each contributed in a special
degree to the success of this corporation; and
WHEREAS, PAUL HARDIE, Estimator, HERMAN AUSLANDER,
Field Superintendent, TOM KRAEMER, Assistant Field
Superintendent, GEORGE KARSTEN, Shop
Superintendent, BILL BUSHEY, Estimator, and LINDA
SANDS, Bookkeeper, are also worthy of special
recognition;
NOW, THEREFORE, BE IT RESOLVED, that the following
bonuses be paid by the corporation on or before
December 15, 1987:
Employee Amount of Bonus
Herman Auslander $46,000
Bill Bushey $ 7,200
Paul Hardie $47,000
George Karsten $46,000
Tom Kraemer $25,000
Linda Sands $ 6,000
Officer Amount of Bonus
Milton J. Chasin $75,000
Donald Hanson $75,000
Gale Searing $97,000
The resolution for the year in issue required petitioner to
pay the bonuses by December 15, 1987. Chasin, Hanson, and
Searing could not have been paid the bonuses in the year in issue
without the consent of all of them.
3. Payment of the Bonuses in 1987
On September 30, 1987, pursuant to the board's resolution,
petitioner debited its payroll expense--officers account by
$247,000 for bonuses it declared that year. Chasin recorded
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