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GIS » Topics » Limitation of Personal Use of Corporate Aircraft

This excerpt taken from the GIS DEF 14A filed Aug 14, 2007.

Limitation of Personal Use of Corporate Aircraft

For more than a decade, the Board of Directors has encouraged the personal use of company aircraft by the Chief Executive Officer both for security and efficiency reasons. Based on the recommendation of the Chief Executive Officer, and after review of peer company practices, this benefit has been limited to $50,000 in value annually. Expenses incurred for the personal use of company aircraft which exceed $50,000 per year will be fully reimbursed by the Chief Executive Officer under an Aircraft Time Sharing Agreement executed for this purpose in December 2006.

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