2013 Executive Incentive Plan Targets for Senior Managers
This document outlines the 2013 Executive Incentive Plan for senior managers at the company, listing target bonus percentages based on each executive's base salary. The plan specifies how bonuses are calculated depending on the achievement of performance targets, with a sliding scale multiplier and discretion by the compensation committee. The key executives named are Gary D. Blackford, William C. Mixon, Rex T. Clevenger, Timothy W. Kuck, and John A. Desch.
Exhibit 10.27
2013 Executive Incentive Plan Targets
| Senior Manager |
| 2013 Executive Incentive Plan Target |
|
| Gary D. Blackford |
| 100 | % |
| William C. Mixon |
| 60 | % |
| Rex T. Clevenger |
| 75 | % |
| Timothy W. Kuck |
| 70 | % |
| John A. Desch |
| 30 | % |
| Target Achievement* |
| Bonus Multiplier |
|
| 110% |
| 150 | % |
| 105% |
| 125 | % |
| 100% |
| 100 | % |
| 99% |
| 95 | % |
| 98% |
| 90 | % |
| 97% |
| 85 | % |
| 96% |
| 80 | % |
| 95% |
| 75 | % |
| 94% |
| 70 | % |
| 93% |
| 65 | % |
| <93% |
| Zero |
|
* The target is set by the compensation committee
Scale Methodology
Directionally, every 1% variance to Target has a 5 times multiplier, with bookends at 110% and 93%, subject to the discretion of the compensation committee.
