This excerpt taken from the TIS DEF 14A filed Apr 15, 2008.
This section provides information regarding the compensation for Mr. Snyder, our President and Chief Executive Officer, Mr. Schroeder, our Chief Financial Officer, and Mr. Sage, our former President and Chief Executive Officer, whom we refer to collectively as the named executive officers. In April, 2007, Mr. Sage announced his retirement as President and Chief Executive Officer, effective July 15, 2007 and on August 20, 2007, we appointed Mr. Snyder to be our new President and Chief Executive Officer. During the interim period, Mr. Schroeder assumed the role of President and Chief Executive Officer, along with his duties as Chief Financial Officer. This section includes information regarding the overall objectives of our compensation programs, the means by which we make compensation decisions and each element of compensation that we provide.
The compensation of our named executive officers is composed principally of a base salary, a cash bonus and equity-based compensation in the form of stock options. In addition, our named executive officers are entitled to matching contributions to our 401(k) plan and certain perquisites.
Compensation decisions are made by the Compensation Committee of our Board of Directors, with significant input from Mr. Shuster, the chairman of our Board of Directors, and from Mr. Snyder for compensation of his direct reports.
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