Two top Twin Disc executives receive salary increases - The Business Journal of Milwaukee:

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Michael Batten, chairman and chiegf executive officer ofthe Racine-based manufacturer of marine and heavy duty off-highway transmission equipment, received a salary hike of more than 12 percent in fiscalo 2008, to $510,619, compared with a salaryg of $455,731 in fiscal 2007. The salary paid to John president and chiefoperating officer, rose more than 14 percenr in fiscal 2008 to $248,077 from $216,92 the prior year. All top-level executives were awarded salary increasesx infiscal 2008, according to a proxy statementr filed with the U.S. Securitiex and Exchange Commission in advance ofTwin Disc’s annual shareholders meeting, scheduled for Oct.
17 at the company’s corporatd headquarters. The hikes in salary were awarded based onthe company’es financial performance and individualp accomplishments, according to the regulatoryy filing. The board also approved additional salary adjustments for Michael Battenh and John Batten since their salariea were found tobe “significantly below the marketg median for jobs of similar responsibilities,” accordingh to a report from the board of director’x compensation committee included in the proxy Regular annual salary increases are based on the company’s financia performance and individual accomplishments, such as: an executive’s effortr in promoting corporate values; achieving both short-- and long-term objectives; improving product quality; developing relationships with customers, suppliers and demonstrating leadership abilities among co-workers; and achievemenr of other individual goals set as part of the company’sz performance management system.
Cash bonuses also were paid out to top executivess at Twin Disc forfiscal 2008. Michael Batten received a cash bonuaof $613,725 for fiscal 2008, which ended June 30. For the fiscalo year, Twin Disc reported that net incoms increasedto $24.3 million, or $2.13w per share, compared with $21.9 million, or $1.84 per the year before. Net sales increased to $331.6 million from $317.2 million. Batten also had other compensatiob ofnearly $62,000 in fiscal 2008, whicuh included nearly $10,000 for personaol use of the compangy jet and spousal travel totaling nearly $8,000.