WINN » Topics » Base Salary

This excerpt taken from the WINN DEF 14A filed Sep 21, 2009.

Base Salary

The primary purpose of our base salary program is to provide competitive levels of pay to attract and retain the executive and management talent needed to make our Company successful.

The Committee conducted its fiscal 2009 review of our NEOs’ base salaries in September 2008. The Company was performing at expected levels despite the general economic downturn affecting the U.S. economy, and our executive leadership team was recognized to have contributed significantly to those results. In evaluating the base salaries of our NEOs, the Committee considered all of the peer group data described above, as well as survey data published by Mercer, Watson Wyatt, Hewitt and other third party survey sources, recommendations from the CEO, individual performance and Company business performance. The Committee did not assign a particular weight to any of these factors. Based on this review, the Committee approved the following salary increases for Messrs. Portnoy, Appel and Eckstein. The Committee recommended for approval by the Board, and the Board approved, the following base salary adjustments for Messrs. Lynch and Nussbaum.

 

Name                          

   Fiscal 2009
Salary
   Percent Increase over
Fiscal 2008 Salary
 

Peter L. Lynch

   $ 1,312,500    5.0

Bennett L. Nussbaum

   $ 583,200    4.1

Dan Portnoy

   $ 550,000    4.8

Larry B. Appel

   $ 520,000    9.4

Frank O. Eckstein

   $ 409,900    3.8

Generally our NEOs received salary increases of approximately 4% to 5%. The terms of Mr. Lynch’s employment contract state that his base salary is reviewed by the Board from time to time and may be increased based on Mr. Lynch’s performance. In fiscal 2009, the Board approved a base salary increase of 5%, increasing his annual base salary to $1,312,500. Mr. Lynch had not received a base salary increase since December 2006. The Committee recognized the significant contributions Mr. Lynch has made to the Company in deciding to approve the increase. For fiscal 2009, Mr. Appel received an initial base salary increase of 4.2%. In December 2008, Mr. Appel assumed the leadership role over the Human Resources function and received an additional increase for that significant added responsibility, for a total base salary increase of 9.4% as compared to fiscal 2008.

This excerpt taken from the WINN DEF 14A filed Sep 22, 2008.

Base Salary

The primary purpose of our base salary program is to provide competitive levels of pay to attract and retain the executive and management talent needed to make us successful.

The Committee conducted its fiscal 2008 review of our named executives’ base salaries in September 2007. In light of the approximately 39% base salary increase provided to Mr. Lynch when his employment agreement became effective in October 2006, the Committee did not increase Mr. Lynch’s base salary in fiscal 2008. Mr. Portnoy’s base salary was also not adjusted, since he had joined us in July 2007.

In evaluating the base salaries of the other three named executive officers, the Committee considered peer group data, survey data published by Watson Wyatt, Hewitt and other third party survey sources, recommendations from the CEO, individual performance and Company business performance. The Committee did not assign a particular weight to any of these factors. Based on this review, the Committee recommended the following base salary adjustments, which were approved by the Board in September 2007 with an effective date of October 1, 2007.

 

Name                          

   Fiscal 2008
Salary
   Percent Increase over
Fiscal 2007 Salary
 

Peter L. Lynch

   $ 1,250,000    —    

Bennett L. Nussbaum

   $ 560,210    5.7 %

Dan Portnoy

   $ 525,000    —    

Larry B. Appel

   $ 475,200    5.6 %

Frank O. Eckstein

   $ 394,875    5.3 %
This excerpt taken from the WINN DEF 14A filed Sep 26, 2007.

Base Salary

 

The primary purpose of our base salary program is to provide competitive levels of pay to attract and retain executives and management talent needed to make us successful.

 

Due primarily to our filing for bankruptcy in February 2005, none of our named executive officers had received a base salary adjustment since calendar year 2004. In anticipation of our emergence from bankruptcy, the pre-emergence Committee reviewed executive base salary levels and approved adjustments. The adjustment to Mr. Lynch’s base salary was established in the New Lynch Employment Agreement and was determined based on the competitive salary information reviewed in connection with the New Lynch Employment Agreement (as discussed in “Employment Agreements” above). For the other named executive officers, the pre-emergence Committee considered compensation Peer Group data, recommendations from the CEO, individual performance, the scope of job responsibilities of the individual, the last date of salary increase and other relevant factors.

 

The pre-emergence Committee made the following base salary adjustments, effective November 21, 2006 for Mr. Lynch and November 1, 2006 for the other named executive officers: Mr. Lynch received a 38.9% increase; Mr. Nussbaum received a 6.0% increase; Mr. Appel received a 12.5% increase; Mr. Robbins received a 7.1% increase; and Mr. Eckstein received a 7.1% increase.

 

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Table of Contents
This excerpt taken from the WINN DEF 14A filed Oct 26, 2005.

Base Salary

 

Individual salary levels are based on a number of factors that include the executive’s performance, responsibilities, experience and tenure, as well as the Company’s circumstances. The Committee reviews possible merit increases in base salary at least annually in August of each year. In August 2004, in light of poor Company performance, the Committee did not approve annual base salary increases for our executives, with the exception of the General Counsel, who did receive a salary increase.

 

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