2011 Executive Incentive Plan Targets for Senior Management

Summary

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.

EX-10.18 3 a11-2267_1ex10d18.htm EX-10.18

Exhibit 10.18

 

2011 Executive Incentive Plan Targets

 

Senior Manager

 

2011 Executive Incentive Plan Target
as a Percent of 2011 Base Salary

 

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