- 11 -
Dennis Wagner
Profit-Sharing
Year Salary Bonus Contribution Total
1986 $51,810 $82,500 $20,146 $154,456
1987 40,456 -0- 6,096 46,552
1988 40,456 33,750 11,131 85,337
1989 40,456 120,000 24,068 184,524
1990 42,239 165,000 30,000 237,239
1991 45,050 700,000 30,000 775,050
1992 43,350 550,000 30,000 623,350
1993 44,720 740,000 30,000 814,720
1994 44,720 800,000 30,000 874,720
1995 47,528 1,000,000 22,500 1,070,028
1996 49,088 650,000 22,500 721,588
Curtis Wagner
Profit-Sharing
Year Salary Bonus Contribution Total
1986 $33,190 $27,500 $9,103 $69,793
1987 40,456 -0- 6,096 46,552
1988 40,456 11,250 7,756 59,462
1989 40,456 40,000 12,068 92,524
1990 42,239 55,000 14,673 111,912
1991 45,050 300,000 30,000 375,050
1992 43,350 150,000 29,477 222,827
1993 44,720 160,000 30,000 234,720
1994 44,720 353,333 30,000 428,053
1995 47,528 200,000 22,500 270,028
1996 49,088 350,000 22,500 421,588
Petitioner paid to Dennis and Curtis weekly salaries equal
to the highest wage that petitioner paid to its operators.
At the end of each fiscal year from 1986 to 1996, Dennis
reviewed financial information with petitioner's accountants.
Dennis limited the amount of the bonuses he and Curtis received
to ensure that petitioner had sufficient funds to expand its
business, purchase needed equipment, pay subcontractors on time,
satisfy business creditors and bonding companies, pay top wages
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011