Board Justification

The compensation program aims to motivate executives to achieve corporate goals by placing a significant portion of pay at risk, aligning executive interests with those of shareholders, and providing competitive total compensation to attract and retain high-caliber executives.

Board Justification

Ms. Dolan earned an annual incentive for fiscal 2005 based on achievement of the Company’s economic improvement target and an individual performance multiplier of 100%, resulting in a payout equal to 253.1% of her target incentive.

Board Justification

Other compensation includes payments under the Tennant Profit Sharing and ESOP Plan and the Company’s Excess Benefit Plan.

Board Justification

No long-term incentive plan award was earned for fiscal 2005; however, she received a restricted stock grant valued at $25,019, which is excluded from total compensation calculations.