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In a Wednesday filing with the Securities and Exchange Commission, the Olathe-based company (Nasdaq: GRMN) said Kao’s tota compensation in 2008 was $580,215, up from $422,899 in 2007. Kao’ss base salary in 2008 was $500,011. He received a cash bonus of $203 and othet compensation of $80,001. In 2007, Kao’s base salarg was $320,201. His cash bonus was $25,000, and othere compensation was $77,698. Garmin said in the SEC filing that all its othee named executive officers each receivexa $203 cash bonus for 2008, “ths same bonus that was paid to all employees of Garmin’s principakl U.S. subsidiary.
” “The executives did not receive any other cash incentive awards or cash bonusesein 2008, in part because for 2008 Garmin did not have a formalizedf annual incentive program for the executives,” the filinb said. “Current macro- and micro-economic conditionse and the factthat Garmin’s performance in 2008 did not excees its performance in 2007 by as much as was expected at the beginninf of 2008 also factored into the executives not receivin a cash incentive award or larger cash bonus in 2008.” Garmin manufactures and markets communicatione devices using satellite-aided global positioning It ranks No.
7 on the Kansas City BusinesseJournal ’s list of area publicc companies.
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