Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 1, 2009, the Compensation Committee of Orchids Paper Products
Company (the "Company") approved the payment of a one-time bonus of $40,000 to
Robert Snyder, the Company's Chief Executive Officer. Pursuant to the terms of
his Executive Employment Agreement, on each September 1 during his employment
term Mr. Snyder is entitled to an increase in base salary based upon the
increase in the applicable consumer price index. On September 1, 2009, the
applicable consumer price index declined relative to September 1, 2008. The
Compensation Committee, based upon the significant contributions Mr. Snyder has
made during the year and the growth in the Company's business and stock price,
determined that the bonus payment was warranted because Mr. Snyder will not
receive an annual increase in base salary.
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