HFFC » Topics » Base Salary.

This excerpt taken from the HFFC DEF 14A filed Oct 15, 2007.
Base Salary.   As stated above, the Compensation Committee reviews, on a periodic basis, competitive base salary levels at other financial institutions and sets base salary ranges for the Named Executive Officers based on a philosophy of being consistent with respect to the market median.

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Based upon individual circumstances, actual base salary levels may be higher or lower than the market median. As indicated above, the “market” for the Corporation is comparable institutions in and around the Bank’s market area, including institutions with total assets of between $500 million and $1 billion. From this reference point, the actual base salaries of the Named Executive Officers are set to be commensurate with their experience, scope of duties and responsibilities, overall level of performance and contribution to the overall performance of the Corporation.

This excerpt taken from the HFFC DEF 14A filed Oct 6, 2006.
Base Salary.   The Committee reviews, on an annual basis, competitive base salary levels at other financial institutions and sets base salary ranges for executive officer positions based on a philosophy of placing the average of the range in relation to the competitive value of the position. From this reference point, the actual base salaries of executive officers are set to be commensurate with their experience, scope of duties and responsibilities and overall level of performance.

The base salary of the Chairman and Chief Executive Officer for the fiscal year ended June 30, 2006, was $315,000. In setting this base salary, the Personnel, Compensation and Benefits Committee considered both peer group comparisons of compensation for chief executive officers of companies similar to the Company and the contribution of the Chairman and Chief Executive Officer to the overall performance of the Company.

This excerpt taken from the HFFC DEF 14A filed Oct 14, 2005.
Base Salary.   The Committee reviews, on an annual basis, competitive base salary levels at other financial institutions and sets base salary ranges for executive officer positions based on a philosophy of placing the average of the range in relation to the competitive value of the position. From this reference point, the actual base salaries of executive officers are set to be commensurate with their experience, scope of duties and responsibilities and overall level of performance.

The base salary of the Chairman and Chief Executive Officer for the fiscal year ended June 30, 2005, was $315,000. In setting this base salary, the Personnel, Compensation and Benefits Committee considered both peer group comparisons of compensation for chief executive officers of companies similar to the Company and the contribution of the Chairman and Chief Executive Officer to the overall performance of the Company.

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