2011 Executive Compensation Plan Agreement between Operational Equipment & Logistics Solutions and Pat Bohlen
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
This agreement outlines the 2011 executive compensation plan for Pat Bohlen at Operational Equipment & Logistics Solutions. It specifies an annual base salary, bonus opportunities based on quarterly goals and year-end EBITDA performance, and a monthly car allowance. The plan is retroactive to January 1, 2011, and requires signing a new NDA. Compensation is not guaranteed and may change at the company's discretion. Employment is at-will, and bonuses are only paid if the employee is still employed at the time of payment. Compensation details are confidential.
EX-10.18 7 y03683a1exv10w18.htm EX-10.18 exv10w18
Exhibit 10.18
 | Operational Equipment & Logistics Solutions |
February 28, 2011
To: | Pat Bohlen | |
From: | Dan Clarkson/Luke Hillier | |
Re: | 2011 Compensation Plan Details |
Pat:
Below are the details for your 2011 Executive Compensation Plan. This plan will be retroactive to January 1, 2011. All executives will be required to sign a new NDA prior to this plan taking effect.
Annual Base Salary
$8,230.77 paid bi-weekly, annualizes to $214,000
$8,230.77 paid bi-weekly, annualizes to $214,000
Annual Bonus Opportunity
$148,964.20
$148,964.20
Bonuses will be paid as a combination of quarterly achievement bonuses and a year-end EBITDA bonus.
| • | Quarterly Bonus Goal: $45,000 — $11,250/quarter | ||
| • | Year-End EBITDA Bonus Goal: $103,964.20 (at 100% EBITDA) |
Please note, there will be no cap to the EBITDA portion of this bonus plan. Should the company surpass its EBITDA goal, bonus payout will multiply by the same percentage at which this goal is exceeded. (i.e., if company EBITDA exceeds plan by 20%, the EBITDA bonus target will be 120% of stated bonus goal)
Car Allowance
$650/month
$650/month
Total Target Earnings (annualized) | ||||
Quarterly Bonus | $ | 45,000.00 | ||
EBlTDA Bonus | $ | 103,964.20 | ||
Car Allowance | $ | 7,800.00 | ||
Base Salary | $ | 214000.00 | ||
TOTAL | $ | 370,764.20 | ||
Please note — this plan provides an annualized target for earnings and is not guaranteed. Compensation plans are subject to change at the sole discretion of the company. Please be advised that business needs may require occasional shifts in territories and personnel. All commission payments will be disbursed under the terms of the ADS Commission Policy, located on the Company Intranet. This document in no way implies a contract for continued employment. Employment is At-Will.
Compensation information is private and confidential and for your sole use. Any employee found to be sharing compensation information may be subject to disciplinary action up to and including termination.
You must be employed at the time of payment in order to be eligible for any bonus payments.
/s/ Pat Bohlen | /s/ Luke Hillier | |||||
Pat Bohlen | date | Luke Hillier | date | |||
