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LNBB » Topics » Summary Compensation Table

This excerpt taken from the LNBB DEF 14A filed Mar 16, 2007.

Summary Compensation Table

     The following table presents the total compensation to the Chief Executive Officer, Chief Financial Officer and the three other most highly compensated executive officers of the Corporation in 2006 (the “Named Executive Officers”). Effective March 5, 2007, Terry M. White was appointed Chief Operating Officer of the Corporation and Sharon L. Churchill was appointed Chief Financial Officer of the Corporation.


Name and
Principal
Position		 Year Salary
($)		 Bonus
($)		 Stock
Awards
($)		 Option
Awards
($) (1)		 Non-Equity
Incentive Plan
Compensation
($)(2)		 Change in
Pension Value
and
Nonqualified
Deferred
Compensation
Earnings
($)		 All Other
Compensation
($)(3)		 Total ($)
Daniel E. Klimas

President and Chief
Executive Officer		 2006 $304,261

$105,000 (4)

 --

$ 44,703

 -- --

$ 18,581(5)

$  472,545

Terry M. White

Chief Financial Officer

 2006 188,182 -- -- 2,415 -- -- 16,826(6)  207,423

Richard E. Lucas (7)

Executive Vice President

 2006 172,692 -- -- 3,450 -- -- 10,665(8) 186,807

Frank A. Soltis

Senior Vice President -
Information Technology
& Operations

2006 169,517 -- -- 1,725 -- -- 15,798(9) 187,040
Lawrence D. Wickter, Jr.

Chief Credit Officer 		2006 142,884 -- -- 2,415 -- -- 13,478(10) 158,777
____________________
 
(1)       The values reported in this column represent amount recognized by the Corporation for financial statement purposes with respect to (A) stock options awarded to Mr. Klimas during 2006 and (B) stock appreciation rights granted to each Named Executive Officer other than Mr. Klimas during 2006. For a summary of the terms of these awards, see the Grants of Plan-Based Awards Table that follows. For a description of the assumptions made in computing the amounts reported in this table, see the discussion of “Stock Options and Stock Appreciation Rights” in the Notes to Consolidated Financial Statements contained in the Corporation’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006.
(2)       The targeted levels established by the Compensation Committee pursuant to the Corporation’s 2006 Management Incentive Plan for Key Executives were not achieved. Accordingly, no compensation was paid to the officers under non-equity incentive plans in 2006. For a description of the 2006 bonus opportunities established by the Compensation Committee under the Executive Incentive Bonus Plan, see footnote 3 to the Grants of Plan-Based Awards Table that follows.

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(3)       For purposes of the disclosure in the Summary Compensation Table, perquisites are valued on the basis of the aggregate incremental cost to the Company of providing the perquisite to the applicable officer.
(4)   Represents amount earned by Mr. Klimas in 2006 as a long-term incentive award at the discretion of the Compensation Committee in accordance with the terms of his employment agreement with the Corporation. See “Compensation Discussion and Analysis” for a discussion of the factors considered by the Compensation Committee in determining the terms of this award.
(5)   Compensation reported in this column includes (i) contributions made by the Corporation in 2006 on behalf of Mr. Klimas to the Corporation’s 401(k) Plan; (ii) premiums paid by the Corporation in 2006 under the Corporation’s life, long-term disability and accidental death and dismemberment plans on behalf of Mr. Klimas; (iii) payments for a vehicle leased by the Corporation for use by Mr. Klimas; and (iv) country club dues.
(6)   Compensation reported in this column includes (i) contributions made by the Corporation in 2006 on behalf of Mr. White to the Corporation’s 401(k) Plan; (ii) premiums paid by the Corporation in 2006 under the Corporation’s life, long-term disability and accidental death and dismemberment insurance plans on behalf of Mr. White; and (iii) premiums paid by the Corporation in 2006 under the Corporation’s health insurance plans on behalf of Mr. White.
(7)   Effective March 9, 2007, Mr. Lucas resigned as Executive Vice President and Senior Retail Executive of the Corporation.
(8)   Compensation reported in this column includes (i) contributions made by the Corporation in 2006 on behalf of Mr. Lucas to the Corporation’s 401(k) Plan; (ii) premiums paid by the Corporation in 2006 under the Corporation’s life, long-term disability and accidental death and dismemberment insurance plans on behalf of Mr. Lucas; and (iii) premiums paid by the Corporation in 2006 under the Corporation’s health insurance plans on behalf of Mr. Lucas.
(9)   Compensation reported in this column includes (i) contributions made by the Corporation in 2006 on behalf of Mr. Soltis to the Corporation’s 401(k) Plan; (ii) premiums paid by the Corporation in 2006 under the Corporation’s life, long-term disability and accidental death and dismemberment insurance plans on behalf of Mr. Soltis; and (iii) premiums paid by the Corporation in 2006 under the Corporation’s health insurance plans on behalf of Mr. Soltis.
(10)   Compensation reported in this column includes (i) contributions made by the Corporation in 2006 on behalf of Mr. Wickter to the Corporation’s 401(k) Plan; (ii) premiums paid by the Corporation in 2006 under the Corporation’s life, long-term disability and accidental death and dismemberment insurance plans on behalf of Mr. Wickter; and (iii) premiums paid by the Corporation in 2006 under the Corporation’s health insurance plans on behalf of Mr. Wickter.

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