Subject: File No. S7-03-06
From: Timothy R. Forbes

February 16, 2006

This proposal is a move in the right direction. Based on the fact that CEO and other Key Executives salary, incentives and benefits are far outpacing that of the ordinary worker. Since FY2000 the gap between the median salary of ordinary workers and other C level executives continues to widen at alarming rates.

Additionally, I feel that this rule will put pressure back on the boards of public companies to re-evaluate lavish perks that are distributed to the top tier executives. Shareholders have a right to clearly understand what is being used as incentives to keep performance high. Many recent published examples have shown that excessive compensation is not a direct determinate of high performance for a company or a stock.

Let the shareholders determine what is far by evaluating no-nonsense language and vote with their proxies to boards who approve this type of executive compensation. Let these executives feel the same type of scrutiny that the average worker feels each review period.

Tim Forbes