Marsh to Pay $25K Bonus to C.F.O. -- Twice
INDIANAPOLIS -- According to a Securities and Exchange Commission document filed yesterday, Marsh Supermarkets Inc. will pay its c.f.o. and e.v.p. for finance, Douglas W. Dougherty, a $125,000 bonus at the end of the month.
The filing also noted that the grocer had signed an employment pact with Dougherty for a term ending Dec. 31, 2006. The pact is retroactive to Dec. 8, 2005. The pact stipulates that Dougherty will get an annual base salary of $210,000 from Dec. 8 through Dec. 31, 2005, and of $477,904 for the rest of the term. If he's still employed by the company on Dec. 31, 2006, he'll receive another $125,000 bonus.
However, if Dougherty's employment ends before May 20, 2007, Marsh will pay him separation pay of $22,325 a month from the time of his termination through May 20, 2007.
The filing also noted that the grocer had signed an employment pact with Dougherty for a term ending Dec. 31, 2006. The pact is retroactive to Dec. 8, 2005. The pact stipulates that Dougherty will get an annual base salary of $210,000 from Dec. 8 through Dec. 31, 2005, and of $477,904 for the rest of the term. If he's still employed by the company on Dec. 31, 2006, he'll receive another $125,000 bonus.
However, if Dougherty's employment ends before May 20, 2007, Marsh will pay him separation pay of $22,325 a month from the time of his termination through May 20, 2007.