RE: 10% CapWas 32 mil, not 25.
From what it looks like the bonus is based on shareholder equity increase each year. Like in 2007 when it rose to 500 mil he got bonuses paid up to 500 mil. Then it retracted to 200 mil and he got no bonus. Then it made its way back up to 650 mil and he got bonuses for the 200-650 run, (he already got 1 bonus for going to 500, so it seems like he got a double bonus for reaching the same level).
I asked before and I ask again, is he getting bonuses each time the shareholder equity runs up to the same amount it was at before it drops?
If it drops back to 300 mil at the end of this year he wont get a bonus. But if next year it then runs back up to 650, will he get a bonus for that run once again? He's already got a bonus for the 200-500 mil run 2 times if I am understanding correctly. How acceptable would it be for him to receive another 10% bonus for that same run?
Pardon me if I'm wrong but that's what the numbers seem to indicate.