EXHIBIT 10.3

 

BASE SALARIES AND ANNUAL INCENTIVE PLAN TARGETS

FOR CERTAIN EXECUTIVE OFFICERS

 

Executive Officer

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   New Base Salary*

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   Percentage Increase from 2004

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2005 Annual Incentive

Plan Target Percentage**

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W. Matt Ralls
Senior Vice President
and Chief Financial
Officer

   $ 420,000    5.0 %   65 %

James L. McCulloch
Senior Vice President
and General Counsel

   $ 340,000    4.6 %   65 %

Marion M. Woolie
Senior Vice President,
Operations

   $ 335,000    4.7 %   65 %

Roger B. Hunt
Senior Vice President,
Marketing

   $ 315,000    5.0 %   60 %

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* These base salaries do not go into effect until April 1, 2005.

** Expressed as a percentage of annual base salary.