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Home BancShares CEO receives car allowance, retirement plan Friday, Apr 27, 2007 Arkansas News Bureau LITTLE ROCK - Home BancShares Inc.'s board of directors approved a $1,500-per-month car allowance and a retirement plan for CEO John W. Allison at a recent meeting, according to a recent Securities and Exchange Commission filing. The retirement plan provides a supplemental retirement benefit of $250,000 a year for 10 consecutive years or until Allison's death, whichever occurs later. The benefits become fully vested at Allison's 65th birthday of if Allison's death, disability or involuntary termination without cause of change in control of the company occur before that day, according to the filing. The annual benefit will be paid in monthly installments. It will go to Allison's beneficiary if he dies before the benefits commence or during the 10-year guaranteed benefit period. As of Dec. 31, Conway-based Home BancShares operated 40 branches in Arkansas, seven in the Florida Keys and three in Southwestern Florida. Shares of Home BancShares closed Thursday at $23.34, down 5 cents. |
