Is this an error or is Biglari no longer receiving a salary as part of his compensation package?
From page 2 of the filing: "...Unless the Company’s adjusted book value growth exceeds 6%, Mr. Biglari would not be entitled to receive any compensation, and his total remuneration would be among the lowest of the Company’s peer group..."
Earlier it refers to "no payments under the Incentive Agreement," but here it refers to compensation, which is a more general term.
Biglari still gets his salary. This comment is related to the incentive comp plan. A couple observations... I think Biglari wrote the first proxy.it looks like he turned this one over to the professionals. I actualy thought it was well done. My guess is he already has the votes to get this done.