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QSFT » Topics » Summary Compensation Table

This excerpt taken from the QSFT DEF 14A filed Apr 10, 2008.

Summary Compensation Table

 

The following table sets forth for the years ended December 31, 2007 and 2006 all compensation awarded or paid to, or earned by, our chief executive officer, chief financial officer and each of our other executive officers for services rendered to Quest in all capacities. These officers are referred to in this Proxy Statement as the Named Executive Officers.

 

This excerpt taken from the QSFT 10-K filed Dec 7, 2007.

Summary Compensation Table

The following table sets forth for the year ended December 31, 2006 all compensation awarded or paid to, or earned by, our chief executive officer, chief financial officer and each of our other executive officers for services rendered to Quest in all capacities. These officers are referred to herein as the Named Executive Officers.

 

Name and Principal Position

    Year    Salary ($)    Bonus ($)    Option
Awards($)(1)		   

Non-Equity

Incentive Plan

Compensation($)

  

All Other

Compensation($)(2)

     Total($)

Vincent C. Smith,

Chairman and Chief Executive Officer

    2006    $ 150,000    $ 180,919    $ 2,862,429    —      $ 292,428 (3)   $ 3,485,776

Douglas F. Garn,

President

    2006      400,000      180,919      2,275,251    —        16,288 (4)     2,872,458

Michael J. Lambert,

Senior Vice President, Chief Financial Officer (5)

    2006      350,000      90,459      876,539    —        14,538 (6)     1,331,536

M. Brinkley Morse,

Senior Vice President, Corporate Development (7)

    2006      345,064      —        2,381,747    —        —         2,726,811

Anthony Foley,

Senior Vice President, Sales (8)

    2006      309,616      95,000      502,000    268,668      29,925 (9)     1,205,209
(1) No stock options were granted to any of our Named Executive Officers in 2006. The amounts shown do not reflect compensation actually received by the Named Executive Officer. Instead, the amounts shown are the compensation costs recognized in our financial statements for 2006 related to stock options granted to each Named Executive Officer in years prior to 2006, to the extent we recognized compensation cost in 2006 for such awards in accordance with the provisions of SFAS 123R, excluding estimated forfeitures. For a discussion of the valuation assumptions used in the SFAS 123R calculations, please see Note 1 of our Notes to Consolidated Financial Statements included in this Report on Form 10–K.

 

(2) The amounts disclosed are valued based on the aggregate incremental cost to Quest for providing the applicable perquisite or personal benefit.

 

(3) The amount of compensation disclosed includes expenses in the amount of: (a) $12,038 related to the allocable cost of our annual sales quota club trip, including $4,628 in related tax gross-up benefits; (b) $23,852 for the cost of two company-provided cars and related expenses; (c) $252,940 for personal use of company-owned aircraft; (d) $96 for the cost of a health club membership; (e) $60 for the cost of a credit card mileage plus membership; (f) $942 in credit card late fees; and (g) $2,500 related to the company matching contribution under our 401(k) plan. For purposes of the aircraft-related compensation disclosures, we have valued Mr. Smith’s personal use of company aircraft based on the cost of fuel, maintenance reserves for engines and smaller variable costs, such as trip-related hangar and parking costs, landing fees, crew expenses and on-board catering. The Company’s aircraft was sold in November 2006.

 

(4) The amount of compensation disclosed includes expenses in the amount of: (a) $12,038 related to the allocable cost of our annual sales quota club trip, including $4,628 in related tax gross-up benefits; (b) $250 for the cost of a physical exam; (c) $1,500 for the cost of theatre tickets purchased for personal use; and (c) $2,500 related to the company matching contribution under our 401(k) plan.

 

(5) Mr. Lambert resigned in October 2007.

 

(6) The amount of compensation disclosed includes expenses in the amount of: (a) $12,038 related to the allocable cost of our annual sales quota club trip, including $4,628 in related tax gross-up benefits; and (b) $2,500 related to the company matching contribution under our 401(k) plan.

 

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Table of Contents
(7) Mr. Morse resigned in November 2006.

 

(8) Mr. Foley’s compensation is denominated in British pounds. However, the amounts disclosed in this Report have been translated into U.S. dollars using the average exchange rate for the relevant year (which was $1.84295 per British pound). Mr. Foley is the only Named Executive Officer paid in total or in part in a currency other than the U.S. dollar.

 

(9) The amount of compensation disclosed includes expenses in the amount of: (a) $26,539 for an automobile allowance; and (b) $3,386 for contributions to a personal pension plan.
This excerpt taken from the QSFT DEF 14A filed Jul 11, 2005.

Summary Compensation Table

 

The following table sets forth for the years ended December 31, 2002, 2003 and 2004 all compensation received by our chief executive officer and each of our executive officers for services rendered to Quest in all capacities. These officers are referred to in this Proxy Statement as the Named Executive Officers.

 

     Annual Compensation
    Long-Term
Compensation
   

All Other
Compensation($) (3)

Name and Principal Position

    Year
    Salary($)
   

Bonus

($) (1)

    Other
Annual
Compen-
sation($) (2)
    Securities
Underlying
Options(#)
   

Vincent C. Smith

Chairman of the Board and

Chief Executive Officer

    2004
2003
2002		    $
 
 		 150,000
—  
—  		    $
$
 		 200,000
200,000
—  		    $
$
$		 138,208
127,005
38,728		    —  
750,000
800,000		    $
 
 		 2,500
—  
—  

Douglas F. Garn (4)

President

    2004
2003		    $
$		 400,000
189,489		    $
$		 200,000
200,000		    $
 		 10,599
—  		    50,000
550,000		    $
$		 2,500
1,500

M. Brinkley Morse

Senior Vice President,

Corporate Development

    2004
2003
2002		    $
$
$		 350,000
200,000
200,000		    $
$
$		 50,000
100,000
50,000		     
 
 		 —  
—  
—  		    —  
150,000
200,000		     
 
 		 —  
—  
—  

Michael J. Lambert (5)

Senior Vice President,

Chief Financial Officer

    2004    $ 17,275      —        —      400,000      —  

Douglas Merritt (6)

Senior Vice President and

General Manager, ADM

    2004    $ 211,458      —        —      700,000      —  
(1) Includes performance bonuses accrued in the year of service whether paid during the year of service or thereafter.

 

(2) For Mr. Smith, these amounts represent (i) automobile expenses paid by Quest of $38,728, $34,963 and $28,439 in 2002, 2003 and 2004, respectively, (ii) for 2003 and 2004, $92,042 and $99,170, respectively, for personal use of aircraft and (iii) $10,599 for the allocable cost of Quest’s annual sales quota club trip, including related tax gross-up benefits. For Mr. Garn, this amount represents only the allocable cost of Quest’s annual sales quota club trip, including related tax gross-up benefits. For purposes of the above compensation disclosures for 2004, we have valued Mr. Smith’s personal use of company aircraft based on the cost of fuel, maintenance reserves for engines and smaller variable costs, such as trip-related hangar and parking costs, landing fees and on-board catering. In 2003, for compensation disclosure purposes, we valued Mr. Smith’s personal use of company aircraft based on the Standard Industry Fare Level rates, as published by the Internal Revenue Service.

 

(3) These amounts represent matching contributions under our 401(k) Plan.

 

(4) Mr. Garn returned to Quest from a medical leave of absence in January 2003 to serve as our Vice President, Worldwide Sales. Mr. Garn was appointed President in February 2005.

 

(5) Mr. Lambert joined Quest in November 2004 as Senior Vice President, Finance with an annual salary of $350,000 and a discretionary target bonus of $100,000. He was appointed Chief Financial Officer in April 2005.

 

(6) Mr. Merritt joined Quest in April 2004 and resigned in February 2005.

 

13

EXCERPTS ON THIS PAGE:

DEF 14A
Apr 10, 2008
10-K
Dec 7, 2007
DEF 14A
Jul 11, 2005

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