2011 Executive Incentive Plan Targets for Senior Management
This document outlines the 2011 Executive Incentive Plan for senior managers, specifying the bonus targets as a percentage of each executive's base salary. The plan details how bonuses are calculated based on the achievement of set targets, with multipliers increasing or decreasing the bonus amount depending on performance. The compensation committee sets the targets and retains discretion over the final awards. If performance falls below 93% of the target, no bonus is awarded.
Exhibit 10.18
2011 Executive Incentive Plan Targets
Senior Manager |
| 2011 Executive Incentive Plan Target |
|
Gary D. Blackford |
| 100 | % |
Rex T. Clevenger |
| 75 | % |
Diana Vance-Bryan |
| 70 | % |
Timothy W. Kuck |
| 70 | % |
Jeffrey L. Singer |
| 70 | % |
Walter T. Chesley |
| 65 | % |
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