2009 Executive Incentive Plan Targets for Senior Managers
This document outlines the 2009 Executive Incentive Plan for senior managers, 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 for bonus multipliers. The compensation committee sets the targets and retains discretion over final awards. The plan applies to named executives including Gary D. Blackford, Rex T. Clevenger, and others.
Exhibit 10.21
2009 Executive Incentive Plan Targets
Senior Manager |
| 2009 Executive Incentive Plan Target |
|
Gary D. Blackford |
| 85 | % |
Rex T. Clevenger |
| 75 | % |
Timothy W. Kuck |
| 70 | % |
Jeffrey L. Singer |
| 70 | % |
Walter T. Chesley |
| 65 | % |
Diana Vance-Bryan |
| 65 | % |
David Lawson |
| 65 | % |
William Heintze |
| 60 | % |
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