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| ID > SEC Filings for ID > Form 8-K on 4-Nov-2008 | All Recent SEC Filings |
4-Nov-2008
Change in Directors or Principal Officers
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On October 27, 2008, the Compensation Committee of the Board of Directors of the Company (the "Compensation Committee"), completed an annual salary review of the Company's executive officers, including among others Robert V. LaPenta, the Chairman, President and Chief Executive Officer of the Company, James DePalma, Executive Vice President, Chief Financial Officer and Treasurer of the Company, Mark S. Molina, Executive Vice President, Chief Legal Officer and Secretary of the Company, and Joseph Paresi, Executive Vice President and Chief Marketing Officer of the Company. The Compensation Committee recommended, and the Board of Directors approved on October 28, 2008, an increase in the annual base salary of Mr. LaPenta from $750,000 to $785,000, the annual base salary of Mr. DePalma from $375,000 to $395,000, the annual base salary of Mr. Molina from $325,000 to $345,000, and the annual base salary of Mr. Paresi from $325,000 to $335,000, each with effect from August 29, 2008. The Compensation Committee recommended, and the Board also approved, the delivery of four thousand seven hundred and fifty-six (4, 756) shares of common stock to Mr. LaPenta, based on a closing price of $7.36 on October 28, 2008, in satisfaction of his annual salary increase of $35,000.
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