Twin Disc increases several executive base salaries

RACINE, Wis. – At a July 26 meeting, the Compensation Committee of the Board of Directors of Twin Disc, Inc., increased the base salaries, effective Sept. 24, and approved the targets for fiscal 2008 bonuses, for the company's principal executive officer, principal financial officer, and certain of its "named executive officers," Twin Disc reported in a Form 8-K filing yesterday.

The new base salary for Michael E. Batten, Twin Disc’s chairman, president and CEO will be $525,000 with a target bonus as a percentage of base salary of 70 percent. Christopher J. Eperjesy, the company’s VP of Finance, CFO and secretary, will have a base salary of $275,000 and a target bonus as a percentage of base salary of 50 percent.

James E. Feiertag, executive vice president, will have a base salary of $275,000 and a target bonus as a percentage of base salary of 50 percent. And John H. Batten, executive vice president, will have a base salary of $255,000 and a target bonus as a percentage of base salary of 50 percent.

In each case, the target incentive bonus is based on the FY 2008 Corporate Incentive Plan, which the committee adopted and approved on July 27. The Corporate Incentive Plan establishes the target bonuses for the named executive officers based on the following factors and relative weights for each factor:

  • Corporate economic profit – 70 percent
  • Reduction in cost of quality – 15 percent
  • Sales growth – 15 percent.
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