PERFORMANCE GRAPH
The following performance graph compares the performance of our common stock to
The Nasdaq Stock Market (U.S.) Index ("Nasdaq"), Standard and Poor's SmallCap
600 Index, and the Peer Group Index* for the period from February 7, 2002 (the
date of the Company's initial public offering) to December 31, 2005. The graph
assumes an investment of $100 in each of our common stock, the Nasdaq, Standard
and Poor's SmallCap 600 Index and the Peer Group Index* on February 7, 2002, and
also assumes reinvestment of all dividends. No cash dividend has been declared
on our common stock.
[[Image Removed: LOGO]]
02/07/2002 12/31/2002 12/31/2003 12/31/2004 12/31/2005
ManTech Intl Corp. $ 100 $ 105.88 $ 138.54 $ 131.81 $ 154.69
S & P SMALLCAP 600 $ 100 $ 84.64 $ 117.48 $ 144.09 $ 155.16
NASDAQ US $ 100 $ 68.64 $ 103.65 $ 113.14 $ 115.54
Peer Group $ 100 $ 109.91 $ 158.34 $ 209.33 $ 208.55
* The Peer Group Index for 2005 consists of Anteon International Corporation,
CACI International Inc., SI International, Inc., SRA International Inc., and
MTC Technologies, Inc.
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Executive Officers
We have set forth below the names and ages of our current executive officers and
their respective positions with us. Biographical information for each of our
executive officers is presented following the table. Our executive officers
serve at the discretion of the Board of Directors.
Name Age Position
George J. Pedersen 70 Chairman of the Board and Chief Executive Officer
Robert A. Coleman 46 President and Chief Operating Officer
Kevin M. Phillips 44 Vice President and Chief Financial Officer
Eugene C. Renzi 72 Senior Executive Vice President and Subsidiary President
Kurt J. Snapper 61 Senior Corporate Vice President and Chief Strategy and
Technology Officer
Gary A. Dorland 56 Subsidiary President
Kenneth J. Farquhar 52 Subsidiary President
Joseph R. Fox 48 Subsidiary President
J. W. Kelley 64 Subsidiary President
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George J. Pedersen. Mr. Pedersen is a co-founder of ManTech International,
Chairman of the Board of Directors and Chief Executive Officer of the Company.
Mr. Pedersen has served as a director of ManTech since 1968 and was appointed
Chairman of the Board of Directors in 1979, adding the position of Chief
Executive Officer in 1995. Mr. Pedersen was also President of the Company from
1995 until 2004. Mr. Pedersen has served on the board of directors of GSE
Systems, Inc. since 1994 and was an executive employee of GSE from 1999 to 2002.
Mr. Pedersen is chairman of the board of directors for the Institute for
Scientific Research, Inc., a not-for-profit corporation that performs research
and advanced development of software and related technologies, including
research for NASA. Mr. Pedersen is on the board of directors of the National
Defense Industrial Association (NDIA), the Institute for Scientific Research,
Inc., and the Association For Enterprise Integration (AFEI), three industry
associations.
Robert A. Coleman. Mr. Coleman is President and Chief Operating Officer of
ManTech International Corporation. Mr. Coleman was named President and Chief
Operating Officer of ManTech in September 2004 and elected as a Director of the
Company in March 2006. Prior to that, he was the President of ManTech's
Information Systems and Technology organization. Before joining ManTech,
Mr. Coleman was the CEO and President of Integrated Data Systems Corporation
(IDS), a highly regarded provider of software engineering, computer security and
enterprise architecture solutions to the Intelligence Community and the
Department of Defense that had revenues of approximately $40 million at the time
it was acquired by ManTech. Founded by Mr. Coleman in 1990, IDS was acquired by
ManTech in February 2003.
Kevin M. Phillips. Mr. Phillips is the Chief Financial Officer of ManTech
International Corporation. Prior to being named Chief Financial Officer,
Mr. Phillips served as Corporate Vice President and Chief of Staff for ManTech,
in which capacity he played an active role in the integration of acquisitions
and other strategic business issues. Mr. Phillips joined ManTech in February
2003. He was formerly the Chief Financial Officer of CTX Corporation, a leading
provider of information technology and software strategies and solutions to the
national Intelligence Community that had revenues of approximately $35 million
at the time it was acquired by ManTech in December 2002. Mr. Phillips spent
seven years in the executive management of CTX Corporation. Prior to that, he
held various roles including controllerships in IT services providers to the
government.
Eugene C. Renzi. Major General Eugene C. Renzi, U.S. Army (Ret.) is Senior
Executive Vice President of ManTech International Corporation and President of
ManTech's Defense Systems Group (DSG). General Renzi joined ManTech in August
1993 and since 1995 has served as President of ManTech Telecommunications &
Information Systems Corporation, part of DSG and one of the company's largest
subsidiaries. Prior to joining ManTech, General Renzi served in the U.S. Army
for more than 32 years, including as the Director for Command and Control and
Communications Systems (C3), U.S. Pacific Command.
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Gary A. Dorland. Mr. Dorland is President of ManTech Security and Mission
Assurance (SMA). Mr. Dorland was named President of SMA in November 2004. Prior
to that, he served as SMA's Chief Operating Officer and Executive Vice
President, managing the day-to-day operations. Before joining ManTech,
Mr. Dorland was Sr. Vice President of Aegis Research Corporation, a premier
provider of security services that had revenues of approximately $60 million at
the time it was acquired by ManTech. Aegis was acquired by ManTech in August of
2002. Prior to joining Aegis in 1997, Mr. Dorland had an illustrious twenty-year
career in the United States Air Force.
Kenneth J. Farquhar. Mr. Farquhar is President of ManTech Systems Engineering
Corporation (MSEC). Mr. Farquhar joined ManTech in 1995 as a Vice President
managing MSEC's Engineering and Systems Support Group, and was named President
of MSEC in December 2003. Before joining ManTech, he held numerous technical and
management positions at Veda, Inc. and the Dynalectron Corporation in support of
U.S. Navy aircraft flight test and engineering efforts at the Naval Air Warfare
Center, Patuxent River, MD.
Joseph R. Fox. Mr. Fox is President of ManTech Information Systems and
Technology (IS&T). Mr. Fox was named President of IS&T in September 2004. Prior
to that, he served as Senior Vice President of IS&T. Before joining ManTech,
Mr. Fox was a Vice President of Integrated Data Systems Corporation (IDS), a
highly regarded provider of software engineering, computer security and
enterprise architecture solutions to the Intelligence Community and the
Department of Defense that had revenues of approximately $40 million at the time
it was acquired by ManTech. He joined IDS in 1991, and was responsible for
software development activities, business development and strategic planning.
IDS was acquired by ManTech in February 2003.
Jay W. Kelley. Mr. Kelley is the President of ManTech's Space Systems business
unit. Mr. Kelley joined ManTech in April 2003 and was appointed to his current
position in April 2004. Previously he was Vice President of Mid-West Operations
for ManTech. Before joining ManTech, Mr. Kelley served over 37 years with the
United States Air Force, retiring as a Lieutenant General. He was a "charter"
member of Toffler Associates, and he has additional professional experience as
the chief operating officer for STA, Inc., and later, the Vice President for
Military Programs for Lockheed Martin Technical Operations.
Kurt J. Snapper, Ph.D. Mr. Snapper serves as our Senior Corporate Vice
President and Chief Strategy and Technology Officer. From 1989 until 2005,
Mr. Snapper served as President of ManTech Security Technology Corporation.
Mr. Snapper joined the Company in 1989, and has over 25 years experience in
decision and risk analysis, specializing in life cycle security management for
physical, technical, and cyber security programs. He has a PhD from the
University of Michigan, where he specialized in decision analysis. Before
joining ManTech, he provided management consulting support for several federal
agencies through university and private research groups.
Employment and Retention Agreements
George J. Pedersen. We entered into an employment retention agreement with
Mr. Pedersen effective January 1, 2002. Mr. Pedersen's retention agreement
provides for his employment at-will, with a minimum annual salary of $1,000,000.
His salary is determined annually by the Compensation Committee of the Board of
Directors, as are any bonus awards, incentive compensation and stock option
grants that he receives. For 2005, Mr. Pedersen's annual salary was set at
$1,200,000. His annual salary for 2006 has been reviewed by the Compensation
Committee and set at $1,300,000 and is subject to annual review.
Mr. Pedersen's retention agreement provides that we may provide him with
non-cash compensation in certain circumstances, including:
first class business travel
business travel insurance
lease of an executive vehicle
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portion of an employee's time spent on non-corporate matters on behalf of
Mr. Pedersen
cell phone and home fax services
tax, legal and estate planning services relating to Mr. Pedersen's ManTech
holdings
matching contributions to 401(k) plan
payments for term life insurance
minimum contribution of $50,000 per year to his supplemental executive
retirement plan
membership dues associated with executive clubs
If we terminate Mr. Pedersen's employment without cause, we are required to pay
Mr. Pedersen a lump sum amount equal to one year's base salary at the rate in
effect immediately prior to such termination of employment. Mr. Pedersen has
agreed he will not compete with us and will not solicit our customers or
employees during the term of his employment and for a period of one year
following his termination without cause.
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