LBIX » Topics » Summary of Compensation

This excerpt taken from the LBIX 20-F filed May 31, 2007.

Summary of Compensation

The following table is a summary of compensation paid to the Named Executive Officers for each of the Company’s three most recently completed fiscal years, converted to US dollars. Compensation for each Named Executive Officer is paid by the Company in Canadian dollars. As the Canadian:US dollar exchange rate has increased by 5% during the fiscal year ended February 28, 2007, that may imply an increase in compensation when none has occurred in Canadian dollars, or otherwise exaggerate any actual Canadian dollar increase.

5



 
Annual Compensation

Long Term Compensation
All
Other
Compensation
Name and
Principal
Position
Fiscal
Year
Ending
Salary
(US$)
Bonus
(US$)
Other Annual
Compensation
(US$)
Securities Under Options
Granted during the year
(#)
Life insurance
premiums
(US$)
Ralph McRae,
Chairman,
President and
CEO


2007


2006

2005
nil


nil

nil
nil


nil

nil
450,070(1)
73,840(1)

400,400(1)
70,070(1)
372,439(1)
65,177(1)
nil

(2)
500,000

nil
1,334


1,101

965
Donna
Higgins,
CFO

2007

2006
2005
138,618

125,125
106,688
nil

nil
nil
nil

nil
nil
nil

50,000(3)
20,000(4)
30,000(5)
1,262

995
807
Dave Read,
Executive Vice
President
2007

2006
2005
nil

nil
nil
nil

nil
nil
183,488(6)

210,887(6)
238,071(6)
nil

50,000(7)
100,000(8)
nil

nil
nil
Patrick
Wilson,
Sr. VP of
Sales
2007

2006

2005
180,900

160,951

146,195
nil

nil

nil
nil

nil

nil
nil

nil
(9)
112,500
1,333

1,142

978
Bill Franklin
Sr. VP
Operations
2007

86,941(10)

nil

nil

75,000

712


(1)

McRae Ventures, Inc., a company with a director in common with the Company, received $450,070 for consulting services provided by Mr. McRae. BBI Holdings Inc., a company with a director in common with the Company, receives US$6,153 per month for consulting services provided by Mr. McRae and another director of BBI Holdings Inc.

(2)

In June 2005, 500,000 previously granted options @ US$1.00 were extended for a further 14-month period @ US$1.19. The expiry date was October 28, 2006.

(3)

In June 2005, 50,000 previously granted options @ US$1.00 were extended for a further 14.5-month period @ US$1.19. The expiry date was October 28, 2006.

(4)

In March 2004, 20,000 previously granted options @US$1.00 were extended for a further 5-year period, expiring April 30, 2009.

(5)

30,000 previously granted options @ US$1.00 expired Jan.25, 2005 and 30,000 options @ US$1.04 were granted July 15, 2004.

(6)

VE Services, a company owned by Mr. Read, received this amount for consulting services provided by Mr. Read.

(7)

In June 2005, 50,000 previously granted options @ US$1.00 were extended for a further 9-month period @ US$1.19. The expiry date was October 28, 2006.

(8)

In March 2004, 50,000 previously granted options @ US$1.00 were extended for a further 5-year period, expiring July 2, 2009 and 50,000 previously granted options @ US$1.00 were extended for a further 5-year period, expiring August 27, 2009.

(9)

92,500 previously granted options @ US$1.00 expired Nov. 3, 2004 and 92,500 options @ US$1.04 were granted July 15, 2004 and 20,000 options @ US$1.10 were granted Mar. 1, 2004.

(10)

Mr. Franklin was hired as Senior VP of Operations in August, 2006. This amount represents 6.5 months during the fiscal year ended February 28, 2007.

6


This excerpt taken from the LBIX 6-K filed May 31, 2007.

Summary of Compensation

The following table is a summary of compensation paid to the Named Executive Officers for each of the Company’s three most recently completed fiscal years, converted to US dollars. Compensation for each Named Executive Officer is paid by the Company in Canadian dollars. As the Canadian:US dollar exchange rate has increased by 5% during the fiscal year ended February 28, 2007, that may imply an increase in compensation when none has occurred in Canadian dollars, or otherwise exaggerate any actual Canadian dollar increase.

5



 
Annual Compensation

Long Term Compensation
All
Other
Compensation
Name and
Principal
Position
Fiscal
Year
Ending
Salary
(US$)
Bonus
(US$)
Other Annual
Compensation
(US$)
Securities Under Options
Granted during the year
(#)
Life insurance
premiums
(US$)
Ralph McRae,
Chairman,
President and
CEO


2007


2006

2005
nil


nil

nil
nil


nil

nil
450,070(1)
73,840(1)

400,400(1)
70,070(1)
372,439(1)
65,177(1)
nil

(2)
500,000

nil
1,334


1,101

965
Donna
Higgins,
CFO

2007

2006
2005
138,618

125,125
106,688
nil

nil
nil
nil

nil
nil
nil

50,000(3)
20,000(4)
30,000(5)
1,262

995
807
Dave Read,
Executive Vice
President
2007

2006
2005
nil

nil
nil
nil

nil
nil
183,488(6)

210,887(6)
238,071(6)
nil

50,000(7)
100,000(8)
nil

nil
nil
Patrick
Wilson,
Sr. VP of
Sales
2007

2006

2005
180,900

160,951

146,195
nil

nil

nil
nil

nil

nil
nil

nil
(9)
112,500
1,333

1,142

978
Bill Franklin
Sr. VP
Operations
2007

86,941(10)

nil

nil

75,000

712


(1)

McRae Ventures, Inc., a company with a director in common with the Company, received $450,070 for consulting services provided by Mr. McRae. BBI Holdings Inc., a company with a director in common with the Company, receives US$6,153 per month for consulting services provided by Mr. McRae and another director of BBI Holdings Inc.

(2)

In June 2005, 500,000 previously granted options @ US$1.00 were extended for a further 14-month period @ US$1.19. The expiry date was October 28, 2006.

(3)

In June 2005, 50,000 previously granted options @ US$1.00 were extended for a further 14.5-month period @ US$1.19. The expiry date was October 28, 2006.

(4)

In March 2004, 20,000 previously granted options @US$1.00 were extended for a further 5-year period, expiring April 30, 2009.

(5)

30,000 previously granted options @ US$1.00 expired Jan.25, 2005 and 30,000 options @ US$1.04 were granted July 15, 2004.

(6)

VE Services, a company owned by Mr. Read, received this amount for consulting services provided by Mr. Read.

(7)

In June 2005, 50,000 previously granted options @ US$1.00 were extended for a further 9-month period @ US$1.19. The expiry date was October 28, 2006.

(8)

In March 2004, 50,000 previously granted options @ US$1.00 were extended for a further 5-year period, expiring July 2, 2009 and 50,000 previously granted options @ US$1.00 were extended for a further 5-year period, expiring August 27, 2009.

(9)

92,500 previously granted options @ US$1.00 expired Nov. 3, 2004 and 92,500 options @ US$1.04 were granted July 15, 2004 and 20,000 options @ US$1.10 were granted Mar. 1, 2004.

(10)

Mr. Franklin was hired as Senior VP of Operations in August, 2006. This amount represents 6.5 months during the fiscal year ended February 28, 2007.

6


This excerpt taken from the LBIX 6-K filed Jun 1, 2006.

Summary of Compensation

The following table is a summary of compensation paid to the Named Executive Officers for each of the Company’s three most recently completed fiscal years, converted to US dollars. Compensation for each Named Executive Officer is paid by the Company in Canadian dollars. As the Canadian:US dollar exchange rate has increased by 7% during the fiscal year ended February 28, 2006, that may imply an increase in compensation when none has occurred in Canadian dollars, or otherwise exaggerate any actual Canadian dollar increase.





Annual Compensation


Long Term Compensation
All
Other
Compensation
Name and
Principal
Position
Fiscal
Year
Ending
Salary
(US$)
Bonus
(US$)
Other Annual
Compensation
(US$)
Securities Under Options
Granted during the year
(#)
Life insurance
premiums
(US$)
Ralph McRae,
Chairman,
President and
CEO



2006


2005

2004

nil


nil

nil

nil


nil

nil

400,400(1)
70,070(1)

372,439(1)
65,177(1)

351,468(1)
61,507(1)
500,000(2)


nil


nil
1,101


965

1,210

Donna
Higgins,
CFO


2006


2005

2004
125,125


106,688

80,263(6)
nil


nil

nil
nil


nil

nil
50,000(3)


20,000(4)
30,000(5)
50,000
995


807

584
Dave Read,
President of
LBI Brands,
Inc.
2006

2005

2004
nil

nil

nil
nil

nil

nil
210,887(7)

238,071

154,300
50,000(8)

100,000(9)

50,000
nil

nil

nil
Patrick
Wilson,
VP of Sales
2006

2005
2004
160,951

146,195
n/a
nil

nil
nil

nil
Nil

112,500(10)
1,142

978

(1)

McRae Ventures, Inc., a company with a director in common with the Company, received $400,400 for consulting services provided by Mr. McRae. BBI Holdings Inc., a company with a director in common with the Company, receives US$5,839 per month for consulting services provided by Mr. McRae and another director of BBI Holdings Inc.

(2)

500,000 previously granted options @ US$1.00 were extended for a further 14-month period @ US$1.19.

- 6 -



(3)

50,000 previously granted options @ US$1.00 were extended for a further 14.5-month period @ US$1.19.

(4)

20,000 previously granted options @US$1.00 were extended for a further 5-year period, expiring April 5, 2009.

(5)

30,000 previously granted options @ US$1.00 expired Jan.25, 2005 and 30,000 options @ US$1.04 were granted July 15, 2004.

(6)

Ms. Higgins was appointed CFO of the Company in April 2003. This amount represents 12 complete months during the fiscal year ended February 29, 2004.

(7)

VE Services, a company owned by Mr. Read, received this amount for consulting services provided by Mr. Read.

(8)

50,000 previously granted options @ US$1.00 were extended for a further 9-month period @ US$1.19.

(9)

50,000 previously granted options @ US$1.00 were extended for a further 5-year period, expiring July 2, 2009 and 50,000 previously granted options @ US$1.00 were extended for a further 5-year period, expiring August 27, 2009.

(10)

92,500 previously granted options @ US$1.00 expired Nov. 3, 2004 and 92,500 options @ US$1.04 were granted July 15, 2004 and 20,000 options @ US$1.10 were granted Mar. 1, 2004.

This excerpt taken from the LBIX 20-F filed Jun 1, 2005.

Summary of Compensation

The following table is a summary of compensation paid to the Named Executive Officers for each of the Company’s three most recently completed fiscal years, converted to US dollars. Compensation for each Named Executive Officer is paid by the Company in Canadian dollars. As the Canadian:US dollar exchange rate has increased by 6% during the fiscal year ended February 28, 2005, that may imply an increase in compensation when none has occurred in Canadian dollars, or otherwise exaggerate any actual Canadian dollar increase.

  Annual Compensation Long Term Compensation All
Other
Compensation
Name and
Principal
Position
Fiscal
Year
Ending
Salary
(US$)
Bonus
(US$)
Other Annual
Compensation
(US$)
Securities Under Options
Granted during the year
(#)
Life insurance
premiums
(US$)
Ralph McRae,
Chairman,
President and
CEO
2005


2004


2003
nil


nil


nil
nil


nil


125,000
372,439
65,172(1)

351,468
61,512(1)

282,340
53,904(1)
nil


nil


nil
965


1,210


808

- 5 -



  Annual Compensation Long Term Compensation All
Other
Compensation
Name and
Principal
Position
Fiscal
Year
Ending
Salary
(US$)
Bonus
(US$)
Other Annual
Compensation
(US$)
Securities Under Options
Granted during the year
(#)
Life insurance
premiums
(US$)
Donna 
Higgins, 
CFO 
2005


2004

106,688


80,263(4)

nil 


nil 
nil


nil
20,000(2)
30,000(3)

50,000
807 


584 
Dave Read, 
President of 
LBI Brands, Inc.
2005

2004

2003

nil

nil

nil
nil 

nil 

21,519 
238,071(5)

154,300

138,193
100,000(6)

50,000

nil
nil 

nil 

nil 
Patrick Wilson,
VP of Sales
2005

2004

2003

146,195

n/a

n/a
nil  nil 112,500(7) 978 

(1)     
BBI Holdings Inc., a company with a director in common with the Company, receives US$5,431 per month for consulting services provided by Mr. McRae and another director of BBI Holdings Inc.
(2)     
20,000 previously granted options @US$1.00 were extended for a further 5-year period, expiring April 5, 2009.
(3)     
30,000 previously granted options @ US$1.00 expired Jan.25, 2005 and 30,000 options @ US$1.04 were granted July 15, 2004.
(4)     
Ms. Higgins was appointed CFO of the Company in April 2003. This figure represents 12 complete months during the fiscal year ended February 29, 2004.
(5)     
VE Services a company owned by Mr. Read, received $238,071 for consulting services provided by Mr. Read.
(6)     
50,000 previously granted options @ US$1.00 were extended for a further 5-year period, expiring July 2, 2009 and 50,000 previously granted options @ US$1.00 were extended for a further 5-year period, expiring August 27, 2009.
(7)     
92,500 previously granted options @ US$1.00 expired Nov. 3, 2004 and 92,500 options @ $US1.04 were granted July 15, 2004 and 20,000 options @ US$1.10 were granted Mar. 1, 2004.
This excerpt taken from the LBIX 6-K filed May 31, 2005.

Summary of Compensation

The following table is a summary of compensation paid to the Named Executive Officers for each of the Company’s three most recently completed fiscal years, converted to US dollars. Compensation for each Named Executive Officer is paid by the Company in Canadian dollars. As the Canadian:US dollar exchange rate has increased by 6% during the fiscal year ended February 28, 2005, that may imply an increase in compensation when none has occurred in Canadian dollars, or otherwise exaggerate any actual Canadian dollar increase.

  Annual Compensation Long Term Compensation All
Other
Compensation
Name and
Principal
Position
Fiscal
Year
Ending
Salary
(US$)
Bonus
(US$)
Other Annual
Compensation
(US$)
Securities Under Options
Granted during the year
(#)
Life insurance
premiums
(US$)
Ralph McRae,
Chairman,
President and
CEO
2005


2004


2003
nil


nil


nil
nil


nil


125,000
372,439
65,172(1)

351,468
61,512(1)

282,340
53,904(1)
nil


nil


nil
965


1,210


808

- 5 -



  Annual Compensation Long Term Compensation All
Other
Compensation
Name and
Principal
Position
Fiscal
Year
Ending
Salary
(US$)
Bonus
(US$)
Other Annual
Compensation
(US$)
Securities Under Options
Granted during the year
(#)
Life insurance
premiums
(US$)
Donna 
Higgins, 
CFO 
2005


2004

106,688


80,263(4)

nil 


nil 
nil


nil
20,000(2)
30,000(3)

50,000
807 


584 
Dave Read, 
President of 
LBI Brands, Inc.
2005

2004

2003

nil

nil

nil
nil 

nil 

21,519 
238,071(5)

154,300

138,193
100,000(6)

50,000

nil
nil 

nil 

nil 
Patrick Wilson,
VP of Sales
2005

2004

2003

146,195

n/a

n/a
nil  nil 112,500(7) 978 

(1)     
BBI Holdings Inc., a company with a director in common with the Company, receives US$5,431 per month for consulting services provided by Mr. McRae and another director of BBI Holdings Inc.
(2)     
20,000 previously granted options @US$1.00 were extended for a further 5-year period, expiring April 5, 2009.
(3)     
30,000 previously granted options @ US$1.00 expired Jan.25, 2005 and 30,000 options @ US$1.04 were granted July 15, 2004.
(4)     
Ms. Higgins was appointed CFO of the Company in April 2003. This figure represents 12 complete months during the fiscal year ended February 29, 2004.
(5)     
VE Services a company owned by Mr. Read, received $238,071 for consulting services provided by Mr. Read.
(6)     
50,000 previously granted options @ US$1.00 were extended for a further 5-year period, expiring July 2, 2009 and 50,000 previously granted options @ US$1.00 were extended for a further 5-year period, expiring August 27, 2009.
(7)     
92,500 previously granted options @ US$1.00 expired Nov. 3, 2004 and 92,500 options @ $US1.04 were granted July 15, 2004 and 20,000 options @ US$1.10 were granted Mar. 1, 2004.
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