Am I the only one on this board who is uncomfortable with giving the BOD the right to award management 10% of the outstanding stock (rights to future earnings)? Franklin has always paid the management group 4-5% of earnings.

The special bonuses awarded 2 years ago were (in the case of several items, like offshore hours most noticably) a gimme for results already achieved. Now that the management group is even further underwater on their options, and fele maybe finally in a position to generate some profits and clear the unfunded pension blip, I am very uncomfortable with doubling the authorized shares available for options.

4-5% of earnings is enough to pay a management group as a whole, no matter what size the company is. 10% is way out of line.

Kirk, surely you are not happy with this possibility?