Board Justification

The compensation philosophy emphasizes a highly-leveraged annual incentive compensation plan that is dependent on profitability, aligning executive compensation with company performance and stockholder value.

Board Justification

No bonus was awarded in 2011; however, a retirement bonus was paid in recognition of his role as the Company's founder and CEO.

Board Justification

Includes perquisites and other personal reimbursements, tax reimbursements, insurance premiums, and Company matching and profit sharing contributions to the Company's Profit Sharing and Retirement Savings Plan, including a cash payment in the amount of $2.0 million in connection with his retirement at the end of 2011.

Board Justification

This amount reflects the grant date fair value of the restricted stock award granted under the 2008 Plan as part of the Company's annual incentive compensation for its senior executive officers, as well as an unrestricted stock award with a grant date fair value of $1.0 million and a restricted stock award with a grant date fair value of $1.0 million, the latter of which is subject to a three-year holding period requirement, which were granted to him in connection with his retirement at the end of 2011.