This excerpt taken from the SPH 10-Q filed Feb 8, 2007.
Compensation and Benefits
In consideration for his services under this Agreement. the Executive shall be compensated as follows:
Salary. The Partnership shall pay to the Executive during the Employment Term a salary (the "Base Salary"), payable in accordance with the normal payroll practices of the Partnership then in effect, in the amount of $400,000 per fiscal year (pro rated in the case of the first fiscal year and any other partial fiscal year). The amount of Base Salary shall be reviewed by the Compensation Committee of the Board (the Compensation Committee) on at least an annual basis and may be increased as the Compensation Committee deems appropriate but Base Salary, as increased, may not be decreased during the Employment Term.
Bonuses. For each fiscal year (or portion thereof) of the Partnership during the Employment Term, the Executive will be eligible for a bonus under the Partnerships Annual Incentive Plan for Salaried Employees, as in effect from time to time, based on the attainment by the Partnership of performance targets set by the Compensation Committee. The amount of such bonus for a fiscal year or portion thereof (the "Annual Bonus") payable pursuant to the terms hereof shall not exceed 110% of the Executive's Base Salary for such year (or portion thereof) to which it relates (the "Maximum Annual Bonus"). The Annual Bonus, if any, shall be paid no later than the date that is 2½ months from the end of the calendar year in which the bonus is earned.
Long-Term Incentive Compensation Programs. Executive shall be eligible to participate in long-term incentive compensation programs (including the 2000 Restricted Unit Plan and the 2003 Long-Term Incentive Plan) applicable to other senior executives of the Partnership in the discretion of the Compensation Committee from time to time.
Vacation. The Executive shall be entitled to such number of annual paid vacation days and the number of days of paid holidays, leaves of absence, and leaves for illness or temporary disability as may be provided in the policies of the Partnership in respect of other executives and senior managers of the Partnership, but in no event shall the Executive be entitled to less than four weeks vacation per year.
Reimbursement of Expenses. The Executive shall be entitled to receive reimbursement of all reasonable expenses incurred by him in connection with the performance of his duties hereunder, in accordance with the policies and procedures of the Partnership.
Benefits. The Executive shall be entitled to participate in employee benefit and fringe benefit plans and programs (including life, health, disability and officer indemnity insurance and retirement plans) generally made available to other senior executives and senior managers by the Partnership. Nothing in this Agreement shall restrict the right of the Partnership to amend, modify or terminate any such plans or programs.
Company Car. The Partnership shall reimburse the Executive for any and all costs and expenses reasonably incurred by the Executive in connection with the Executive's leasing of a car in accordance with Partnership policy relating to gas, insurance, maintenance, etc.