Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - CASEYS GENERAL STORES INC | d365880d8k.htm |
| EX-99.1 - PRESS RELEASE - CASEYS GENERAL STORES INC | d365880dex991.htm |
EXHIBIT 99.2
FY2013 SALARY AND BONUS ARRANGEMENTS
FOR EXECUTIVE OFFICERS
FY2013 Salary Structure
| Position |
Name |
FY2013 Base Salary | ||
| CEO |
Robert J. Myers | $880,000 | ||
| COO |
Terry W. Handley | $500,000 | ||
| SVP/CFO |
William J. Walljasper | $450,000 | ||
| SVP/Logistics & Acquisitions |
Sam J. Billmeyer | $440,000 | ||
| SVP/General Counsel |
Julia L. Jackowski | $400,000 |
FY2013 Annual Incentive Plan
The target bonus available to the executive officers (and Vice Presidents) will be an amount equal to 36% of base salary, with an opportunity for up to 60% of base salary if the Company exceeds certain earnings per share and return on invested capital goals for the year. Of that amount, 75% will be based on earnings per share, and 25% based on return on invested capital.
If and as earnings per share reach specified targets approved by the Board of Directors, bonus payments will be made in amounts beginning at 4.5% of salary and increasing at intervals of 4.5% up to a maximum of 45% of the base salary amount (27% at the target amount). The bonus payment will be made in the form of 75% cash/25% equity (restricted stock units) at the 4.5% level, with incremental adjustments to 30% cash/70% equity at the 45% maximum bonus amount.
If and as return on invested capital reaches specified targets approved by the Board, bonus payments will be made in amounts beginning at 1.5% of salary and increasing at intervals of 1.5% up to a maximum of 15% of the base salary amount (9% at the target amount). The bonus payment will be made in the form of 75% cash/25% equity (restricted stock units) at the 1.5% level, with incremental adjustments to 30% cash/70% equity at the 15% maximum bonus amount. For this purpose, return on invested capital is determined by dividing operating income after depreciation and tax before interest by average invested capital.