LDIS » Topics » Base Salary

This excerpt taken from the LDIS DEF 14A filed Oct 2, 2009.

Base Salary

Salaries of executive officers are principally based on the Compensation Committee’s evaluation of individual job performance, an assessment of the Company’s performance, consideration of salaries paid by the peer group companies to officers holding similar positions, and expectations about the officer’s future contributions to the Company. The Compensation Committee reviews salaries annually as part of the Company’s performance review process as well as upon a promotion or other change in job responsibility.

The salaries of our named executive officers generally fall within the 50 – 60th percentile range relative to our peer companies. During 2008, the base salary for John Allen, who was appointed Chief Financial Officer in April 2007, was increased from $210,000 to $220,500, as his salary was substantially below that of similarly situated officers at our peer companies. Similarly, the salary of Eric Rosser, our former Executive Vice President of Sales was increased from $180,000 to $200,000 in conjunction with his promotion to the position of Executive Vice President of Sales.

As part of an effort to control expenses while implementing its diversification plan, the Company did not raise base salaries of the executive officers for 2007 or 2008, except as described above. In place of increases to base salaries, the Company awarded restricted stock units (“RSUs”) to employees in March 2007, including the named executive officers. The Company did not grant any RSUs to employees in 2008. As part of our effort to control costs as we restructure our business and evaluate strategic alternatives, we reduced the salaries of our executive officers by 10%, effective April 1, 2009.

These excerpts taken from the LDIS 10-K filed Mar 31, 2009.

Base Salary

Salaries of executive officers are principally based on the Compensation Committee’s evaluation of individual job performance, an assessment of the Company’s performance, consideration of salaries paid by the peer group companies to officers holding similar positions, and expectations about the officer’s future contributions to the Company. The Compensation Committee reviews salaries annually as part of the Company’s performance review process as well as upon a promotion or other change in job responsibility.

The salaries of our named executive officers generally fall within the 50 – 60th percentile range relative to our peer companies. During 2008, the base salary for John Allen, who was appointed Chief Financial Officer in April 2007, was increased from $210,000 to $220,500, as his salary was substantially below that of similarly situated officers at our peer companies. Similarly, the salary of Eric Rosser, our former Executive Vice President of Sales was increased from $180,000 to $200,000 in conjunction with his promotion to the position of Executive Vice President of Sales.

As part of an effort to control expenses while implementing its diversification plan, the Company did not raise base salaries of the executive officers for 2007 or 2008, except as described above. In place of increases to base salaries, the Company awarded restricted stock units (“RSUs”) to employees in March 2007, including the named executive officers. The Company did not grant any RSUs to employees in 2008. As part of our effort to control costs as we restructure our business and evaluate strategic alternatives, we reduced the salaries of our executive officers by 10%, effective April 1, 2009.

Base Salary

Salaries of executive officers are principally based on the Compensation Committee’s evaluation of individual job performance, an assessment of the Company’s performance, consideration of salaries paid by the peer group companies to officers holding similar positions, and expectations about the officer’s future contributions to the Company. The Compensation Committee reviews salaries annually as part of the Company’s performance review process as well as upon a promotion or other change in job responsibility.

The salaries of our named executive officers generally fall within the 50 – 60th percentile range relative to our peer companies. During 2008, the base salary for John Allen, who was appointed Chief Financial Officer in April 2007, was increased from $210,000 to $220,500, as his salary was substantially below that of similarly situated officers at our peer companies. Similarly, the salary of Eric Rosser, our former Executive Vice President of Sales was increased from $180,000 to $200,000 in conjunction with his promotion to the position of Executive Vice President of Sales.

As part of an effort to control expenses while implementing its diversification plan, the Company did not raise base salaries of the executive officers for 2007 or 2008, except as described above. In place of increases to base salaries, the Company awarded restricted stock units (“RSUs”) to employees in March 2007, including the named executive officers. The Company did not grant any RSUs to employees in 2008. As part of our effort to control costs as we restructure our business and evaluate strategic alternatives, we reduced the salaries of our executive officers by 10%, effective April 1, 2009.

This excerpt taken from the LDIS DEF 14A filed Apr 29, 2008.
Base Salary
 
Salaries of executive officers are principally based on the Compensation Committee’s evaluation of individual job performance, an assessment of the Company’s performance, consideration of salaries paid by the peer group companies to officers holding similar positions, and expectations about the officer’s future contributions to the Company. The Compensation Committee reviews salaries annually as part of the Company’s performance review process as well as upon a promotion or other change in job responsibility.


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The salaries of our named executive officers generally fall within the 50-60th percentile range relative to our peer companies, except for the base salary of John Allen, who was appointed Chief Financial Officer in April 2007, which is below the 25th percentile relative to our peer companies.
 
As part of an effort to control expenses while implementing its diversification plan, the Company chose not to raise base salaries for 2007 for any employees, including executive officers. In place of increases to base salaries, the Compensation Committee approved the issuance of restricted stock units (“RSUs”) to employees in March 2007, including the named executive officers, with the goals of retaining and motivating employees during the Company’s business transformation and controlling expenses. These RSUs vest over a two year period, with 50% of the shares vesting in February 2008 and 50% vesting in February 2009, provided that the employee continues to provide services to the Company. The RSUs granted to our named executive officers are reflected below under the heading Long-Term Equity Incentive Awards.
 
With the Company’s business transformation still underway, the Company again chose not to raise the base salaries of members of the management team for 2008, except in two instances where the executive had received a promotion and his salary was substantially below that of similarly situated officers at peer companies. As a result, Mr. Allen’s base salary for 2008 was increased from $210,000 to $220,500. We also increased the base salary of our new Executive Vice President of Worldwide Sales, who is not a named executive officer for purposes of this proxy statement. The Company did not grant any RSUs in 2008.
 
This excerpt taken from the LDIS DEF 14A filed Apr 30, 2007.
Base Salary
 
The Compensation Committee annually reviews and determines the base salaries of the Chief Executive Officer and other members of senior management, with its determination with respect to the Chief Executive Officer being subject to approval by the entire Board. Salaries of executive officers are principally based on the Committee’s evaluation of individual job performance, an assessment of the Company’s performance, consideration of salaries paid by the peer group companies to officers holding similar positions, and expectations about the officer’s future contributions to the Company. We generally target base salaries in the middle third percentile of the peer group companies. The Compensation Committee reviews salaries annually as part of the Company’s performance review process as well as upon a promotion or other change in job responsibility.
 
As part of its effort to control expenses while implementing its diversification plan, the Company chose not to raise base salaries in 2007 for any employees, including executive officers. In place of increases to base salaries, the Compensation Committee approved the issuance of restricted stock units (“RSUs”) to employees, including executive officers, with a goal of retaining and motivating employees during the Company’s business transformation and controlling expenses. These RSUs vest over a two year period, with 50% of the shares vesting on February 15, 2008 and 50% vesting on February 15, 2009, provided that the employee continues to provide services to the Company.
 
This excerpt taken from the LDIS DEF 14A filed Apr 28, 2006.

Base Salary

 

The Committee annually reviews and determines the base salaries of the Chief Executive Officer and other members of senior management, with its determination with respect to the Chief Executive Officer being subject to approval by the entire Board. In setting salaries, the Committee does not use a predetermined formula. Instead, the salaries of executive officers are principally based on the Committee’s evaluation of individual job

 

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performance, an assessment of the Company’s performance, and consideration of salaries paid by similar companies to executive officers holding similar positions. As a result of the Committee’s review of executive salaries in early 2005, the salary of each executive was increased. The 2005 salaries of the named executives are shown in the “Salary” column of the Summary Compensation Table.

 

This excerpt taken from the LDIS DEF 14A filed Apr 29, 2005.

Base Salary

 

The Committee annually reviews and determines the base salaries of the Chief Executive Officer and other members of senior management, with its determination with respect to the Chief Executive Officer being subject to approval by the entire Board. In setting salaries, the first element of the executive compensation program, the Committee does not use a predetermined formula. Instead, the salaries of executive officers are principally based on the Committee’s evaluation of individual job performance, an assessment of the Company’s performance, and consideration of salaries paid by similar companies to executive officers holding similar positions. The 2004 salaries of the named executives are shown in the “Salary” column of the Summary Compensation Table.

 

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