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In a resolution effective December 20, 1996, Menards’s board
of directors11 decided that, for TYE 1998, Menards would pay Mr.
Menard a salary of $157,500 and the 5-percent bonus. Mr.
Menard’s total compensation in TYE 1998 consisted of the
following items:
Item Amount
Base salary
(regular weekly payroll) $62,400
Base salary
(paid in December) 95,100
5-percent bonus 17,467,800
IPS 3,017,100
Christmas gift bond 185
120,642,585
1This figure contains an unreconciled difference of $100 on
Mr. Menard’s 1997 Form W-2, Wage and Tax Statement.
Mr. Menard’s total compensation constituted 0.6 percent of
Menards’s TYE 1998 gross receipts and 5.16 percent of all other
employees’ wages.
II. Comparable Companies and Rate of Return on Investment
A. Compensation Paid by Comparable Publicly Traded
Companies
For purposes of comparing Mr. Menard’s compensation to CEO
compensation of publicly traded companies, the comparison group
consists of the following five publicly traded companies: Home
11Menards’s board of directors at this time consisted of Mr.
Menard, L. Menard, and Earl Rasmussen.
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