TBAC » Topics » How was our Chief Executive Officers compensation determined?

This excerpt taken from the TBAC DEF 14A filed Sep 22, 2006.
How was our Chief Executive Officer’s compensation determined?
During fiscal year 2006, our Chief Executive Officer’s base salary rate was $508,815, a $14,815 increase from fiscal year 2005. Because our performance during fiscal year 2006 did not meet or exceed the minimum levels established in our compensation plan, we did not pay our Chief Executive Officer a bonus for fiscal year 2006. We also did not pay our Chief Executive Officer a bonus for fiscal year 2005. The base salary paid to our Chief Executive Officer for fiscal year 2006 was, in the opinion of the Compensation Committee and the Board of Directors, consistent with the salaries and bonuses for comparable positions within our industry and peer group.
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