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Gellerstedt's base salary was increased from $375,000 to $500,000, his targert annual incentive cash bonus award was increasedto $525,009 and his target long-term equity incentive award was increased to the filing shows. The 2009 cash bonuse and equityincentive award, if earned, are expecteds to be awarded by the company'as Compensation, Succession, Nominating and Governance Committee in February 2010. Gellerstedtf is replacing the retiringTom Bell, who turns 60 this year. Bell made a salar y of $650,000 and had $2.6 million in tota compensationfor 2008, according to a proxy filing. 53, came to Cousins (NYSE: CUZ) when the REIT boughtt his firm, , in June 2005.
Gellerstedt served as chairmajn and CEO of the BeersConstructiob Co. from 1986 to 1998. In 1998, after the sale of Beersw to Skanska USA, he was elected chairman and CEO of AmericabBusiness Products, a packaging and printed officew products company. In 2000, Gellerstedt became president and chief operatinhg officer of TheIntegral Group, an urbah mixed-use development company. He went on to found The Gellerstedyt Groupin 2003.
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