in business!
Oh, and he is an ADMINISTRATIVE HEAD...i.e., no operational authority -- OR RESPONSIBILITY! AINT DAT DA BEST!?!?!?!?????
Parents: tell your children the same!
Way to go Scott! YOU ARE THE MAN!!!! A HALF A MILLION DOLLARS TO BALANCE CREDITS AND DEBTS...OH, and to hire banking consultants to assist you with your vision for the company's future.
The following fiscal year 2012 base salaries were approved for the named executive officers:
William J. Merritt, President and Chief Executive Officer: $550,000 Scott A. McQuilkin, Chief Financial Officer: $332,600 Lawrence F. Shay, Executive Vice President, Intellectual Property, and Chief Intellectual Property Counsel: $387,000
Mark A. Lemmo, Executive Vice President, Corporate and Business Development:
$322,900
James J. Nolan, Executive Vice President, Research and Development: $302,900
the following short-term incentive awards to the named executive officers pursuant to the company's short-term incentive plan, which are expected to be paid in February 2012.
William J. Merritt, President and Chief Executive Officer: $469,700 Scott A. McQuilkin, Chief Financial Officer: $158,504 Lawrence F. Shay, Executive Vice President, Intellectual Property, and Chief Intellectual Property Counsel: $175,159
Mark A. Lemmo, Executive Vice President, Corporate and Business Development:
$124,235
James J. Nolan, Executive Vice President, Research and Development: $117,891
One hundred percent (100%) of all the short-term incentive awards set forth above will be paid in cash.
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