FPIC Insurance Group Inc. of Jacksonville has extended theemployment agreements for its top two executives, President and CEOJohn R. Byers and Chief Financial Officer Charles Divita III andset their salaries and bonus parameters for 2007. The employmentagreements for both were extended by a year – Byers' through 2009and Divita's through 2008.
|The executives' bonuses will depend on specific levels of totalrevenue, operating earnings per diluted share, return on averageequity, and earnings per share. The target bonus for Byers is 100percent of his base salary, for Divita, 50 percent of his basesalary. Depending upon the company's performance, the actualbonuses could be from 50 percent to 150 percent of the targetbonuses.
|The company provides medical professional liability insurancefor doctors, dentists, and other health care providers.
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