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DDE > SEC Filings for DDE > Form 8-K on 3-Jan-2014All Recent SEC Filings

Show all filings for DOVER DOWNS GAMING & ENTERTAINMENT INC

Form 8-K for DOVER DOWNS GAMING & ENTERTAINMENT INC


3-Jan-2014

Entry into a Material Definitive Agreement


Item 1.01 Entry Into Material Definitive Agreements.

At its regularly scheduled meeting held on January 3, 2014, the following resolutions were adopted by the Compensation and Stock Incentive Committee of the Board of Directors of the registrant:

"RESOLVED, that there will be no salary changes made for the Executive Officers of the Company (or any of its subsidiaries) for fiscal year 2014.

FURTHER RESOLVED, that no bonuses shall be paid to the Executive Officers of the Company (or any of its subsidiaries) for fiscal year ending 2013.

FURTHER RESOLVED, that the determination of a discretionary annual incentive for the Executive Vice President for fiscal year ending 2014 will be dependent upon an overall favorable evaluation of the Executive Vice President's performance and be calculated as two and one-half percent (2 %) of the year over year increase in the Company's pre-tax earnings, as determined by this Committee in its sole discretion, including any adjustments for extraordinary or non-recurring items as the Committee may deem appropriate.

FURTHER RESOLVED, that, effective as of January 1, 2014, the salary for the Chief Executive Officer of the Company shall remain $300,000 per annum and the determination of a discretionary annual incentive for fiscal year ending 2014 will be dependent upon an overall favorable evaluation of the Chief Executive Officer's performance and be calculated as five percent (5%) of the year over year increase in the Company's pre-tax earnings, as determined by this Committee in its sole discretion, including any adjustments for extraordinary or non-recurring items as the Committee may deem appropriate."

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