- 26 -
consisting of several hundred annually surveyed companies in
order to assign a base compensation value for each officer.
Mr. Gallagher also considered the performance of petitioner
by examining its financial data. From this data, Mr. Gallagher
concluded that petitioner has attained an exceptional level of
accomplishment which strongly suggests that the key executives,
Messrs. Bennett and Sokol, should be richly rewarded for their
financial stewardship. Consequently, Mr. Gallagher concluded
that pay levels for Messrs. Bennett and Sokol should be "well in
excess of the market median".
After calculating an appropriate amount of direct
compensation, Mr. Gallagher determined that a reasonable
compensation package for Messrs. Bennett and Sokol would also
include an amount necessary to fund a pension plan to provide a
competitive retirement income, as well as profit sharing to
recognize petitioner's exceptional performance. Mr. Gallagher's
conclusions are expressed as follows:
Page: Previous 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 NextLast modified: May 25, 2011