MLI » Topics » Base Salary

This excerpt taken from the MLI DEF 14A filed Mar 26, 2009.

Base Salary

     Base salary adjustments are determined by making reasoned subjective determinations about current economic conditions such as general wage inflation as well as the executive’s qualifications, experience, responsibilities, and past performance. For 2008, base salary increases ranged from 0% to 68% for our named executive officers. Mr. Christopher’s base salary for the 2007 fiscal year was $265,225, which was increased to $445,000 for the 2008 fiscal year in connection with his appointment to the position of Chief Operating Officer. See “Employment and Consulting Agreements - Gregory L. Christopher” for information regarding Mr. Christopher’s base salary as Chief Executive Officer.

This excerpt taken from the MLI DEF 14A filed Mar 26, 2008.

Base Salary

     Base salary adjustments are determined by making reasoned subjective determinations about current economic conditions such as general wage inflation as well as the executive’s qualifications, experience, responsibilities, and past performance. For 2007, base salary increases ranged from 3% to 34% for our named executive officers.

This excerpt taken from the MLI DEF 14A filed Mar 27, 2007.

Base Salary

     Annual base salary provides a base level of compensation for services rendered during the year. Base salary adjustments are determined by making reasoned subjective determinations about current economic conditions such as general wage inflation as well as the executive’s qualifications, experience, responsibilities, and past performance. For 2006, base salary increases were approximately 3% for our named executive officers which was approximately the aggregate increase for all salaried employees. In December 2006, the Compensation Committee approved (i) base salary increases for 2007 of approximately 3% for our named executive officers (other than Messrs. Karp and O’Hagan) and all salaried employees, and (ii) 2007 base salaries for Messrs. Karp and O’Hagan of $1,500,000 and $1,000,000, respectively, effective December 26, 2006.

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