MAIR CEO made $1.3M in '05

[bomberbubba]

John Vomhof Jr. Staff Writer
[FONT=Times New Roman,Times,Serif]MAIR Holdings Inc. President and CEO Paul Foley took home nearly $1.3 million in direct compensation in fiscal 2005, according to a proxy filed with the Securities and Exchange Commission on Monday.

Foley earned a salary of $350,000 and a bonus of $350,000 in 2005, the same amounts he received in 2004.
Foley also received a $500,000 long-term incentive plan payout, a one-time retention bonus that must be paid back to the company if he leaves prior to Sept. 30, 2008.
The company also gave Foley $79,713 in other compensation in 2005, compared to $76,754 a year earlier.
Foley also received 150,000 stock options in 2005, which would be worth $781,087 assuming annual appreciation rates of 5 percent. He did not receive any options in 2004 after getting 150,000 in 2003.
MAIR (Nasdaq: MAIR) operates Mesaba Airlines, which filed for bankruptcy in October. Mesaba flies regional jets for Northwest Airlines Corp., which owns 27.5 percent of MAIR. Eagan-based Northwest (Pink Sheets: NWACQ) filed for bankruptcy in September.
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[W&BWiz]

So if we shut it down does he have to pay back his $500,000??

 

[Dodge]

I believe so. They are asking the furloughees to pay the cost of their training if they leave one second before their furlough starts. The BOD and Shareholders (I know, one in the same) should expect nothing less from the man at the top.

 

[Peanut Chaser]

not One Penny!