SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
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[ ] Definitive Proxy Statement
[x] Definitive Additional Materials
[ ] Soliciting Material Pursuant to s240.14a-11(c) or s240.14a-12
Volt Information Sciences, Inc.
(Name of Registrant as Specified in Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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<PAGE>
VOLT INFORMATION SCIENCES, INC. VIS
1221 Avenue of the Americas
New York, New York 10020-1579
(212) 704-2400
May 23, 1997
Dear Shareholder:
Enclosed is a corrected page 6 to the Company's Proxy Statement dated May
20, 1997 being used in connection with the solicitation of Proxies by management
for use at the Company's 1997 Annual Meeting of Shareholders to be held on June
16, 1997.
Due to a computer error at the offices of our counsel, the year column set
forth in the "Summary Compensation Table" on page 6 the Proxy Statement as
previously forwarded to you erroneously reflected incorrect dates.
We apologize for any inconvenience this may have caused you.
Very truly yours,
VOLT INFORMATION SCIENCES, INC.
<PAGE>
EXECUTIVE REMUNERATION
Summary Compensation Table
The following table sets forth information concerning the compensation during
the fiscal years ended November 1, 1996, November 3, 1995 and October 28, 1994
of the Company's Chief Executive Officer and each of the four other executive
officers of the Company who received the highest cash compensation during the
year ended November 1, 1996 for services rendered in all capacities to the
Company and its subsidiaries:
<TABLE>
Long-Term
Compensation
------------
Annual Compensation Securities Underlying All Other
Principal Position Year Salary (1) Bonus Options (2) Compensation (3)
- ------------------ ---- ---------- ----- ----------- ----------------
<S> <C> <C> <C> <C>
William Shaw, 1996 $355,000 -- 39,000 $1,707
President and 1995 348,365 -- -- 1,631
Chief Executive Officer 1994 330,000 -- -- 1,571
Jerome Shaw, 1996 355,000 -- 39,000 1,707
Executive Vice President 1995 348,365 -- -- 1,894
1994 330,000 -- -- 1,571
James J. Groberg, 1996 248,462 $65,000 23,000 1,349
Senior Vice President and 1995 240,528 15,000 -- 1,651
Chief Financial Officer 1994 219,603 15,000 -- 1,260
Irwin B. Robins, 1996 220,155 10,000 23,000 1,468
Senior Vice President 1995 214,135 10,000 -- 1,907
1994 202,500 5,000 -- 1,452
Howard B. Weinreich, 1996 161,589 7,500 9,000 1,349
General Counsel 1995 154,915 7,500 -- 1,781
1994 145,167 5,000 -- 1,051
- -------------------------------------
</TABLE>
(1) Includes compensation deferred under the Company's deferred compensation
plan and under Section 401(k) of the Internal Revenue Code of 1986, as
amended.
(2) In addition to options to purchase shares of the Company's Common Stock,
includes options to purchase the following number of shares of Common Stock
of the Company's 59% - owned subsidiary, Autologic Information
International, Inc. ("Autologic"): William Shaw, 9,000 shares; Jerome Shaw,
9,000 shares; James J. Groberg, 5,000 shares; Irwin B. Robins, 5,000
shares; and Howard B. Weinreich, 3,000 shares. See "Option Grants in Fiscal
Year", below.
(3) Amounts in fiscal 1996 include premiums under the Company's group life
insurance policy ($716 for William Shaw; $716 for Jerome Shaw; $716 for
James J. Groberg; $477 for Irwin B. Robins; and $358 for Howard B.
Weinreich) and the market value at the date of contribution of the portion
of the shares of Common Stock contributed by the Company under its Employee
Stock Ownership Plan ($987 for each of the named executive officers),
together with the market value at fiscal year-end of the portion of the
shares forfeited by terminated employees under such plan ($5 for each of
the named executive officers), which were allocated during fiscal 1997 with
respect to fiscal 1996 to the named officers in accordance with such plan.
