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This excerpt taken from the NCEM DEF 14A filed Apr 5, 2007. The Compensation Committee has reviewed the foregoing Compensation Discussion and Analysis required by Item 402(b) of Regulation S-K and discussed the Compensation Discussion and Analysis with the Company’s management. Based on such review and discussions with management, the Compensation Committee recommended to the Board that the foregoing Compensation Discussion and Analysis be included in this Proxy Statement. COMPENSATION COMMITTEE Nathan L. Wade 8 This excerpt taken from the NCEM DEF 14A filed Mar 23, 2006. Compensation Committee Report
The following paragraphs comprise the report of the Compensation Committee of the Board of Directors with respect to compensation paid for the fiscal year ended December 31, 2005.
Dr. Day continues as an employee of the Company in the capacity of President and Chief Executive Officer, and is covered by a contract with respect to such employment. Dr. Day received base compensation of $175,000 in 2005, the same base compensation amount paid to Dr. Day in 2004 and 2003. A bonus of $20,000 was awarded to Dr. Day in 2005. Dr. Day also receives other compensation in the form of life and disability insurance premiums paid, medical reimbursement payments and an automobile allowance. Such other compensation totaled $21,421 in 2005. The compensation committee considers this level of compensation appropriate considering the decision-making responsibilities, executive experience, and work performance of Dr. Day.
Dennis P. Gauger, Chief Financial Officer, joined the Company in November 2001 and currently serves on a part-time, consulting basis. The Compensation Committee approved this arrangement and the hourly rate currently paid to Mr. Gauger.
COMPENSATION COMMITTEE
Nathan L. Wade James E. Solomon E. Bryan Bagley M. Garfield Cook
4
This excerpt taken from the NCEM DEF 14A filed Mar 23, 2005. Compensation Committee Report The following paragraphs comprise the report of the Compensation Committee of the Board of Directors with respect to compensation paid for the fiscal year ended December 31, 2004. Dr. Day continues as an employee of the Company in the capacity of President and Chief Executive Officer, and is covered by a contract with respect to such employment. Dr. Day received base compensation of $175,000 in 2004, the same base compensation amount paid to Dr. Day in 2003 and 2002. No bonuses were awarded to Dr. Day in 2004. Dr. Day also receives other compensation in the form of life and disability insurance premiums paid, medical reimbursement payments and personal use of a company-owned vehicle. Such other compensation totaled $17,405 in 2004. The compensation committee considers this level of compensation appropriate considering the decision-making responsibilities, executive experience, and work performance of Dr. Day. Dennis P. Gauger, Chief Financial Officer, joined the Company in November 2001 and currently serves on a part-time, consulting basis. The Compensation Committee approved this arrangement and the hourly rate currently paid to Mr. Gauger. 4 COMPENSATION COMMITTEE Nathan
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