2007 Executive Incentive Plan Targets for Senior Management

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the 2007 Executive Incentive Plan for senior managers, listing target bonus percentages based on each executive's base salary. The plan specifies how bonuses are calculated according to performance against targets, with higher achievement resulting in larger payouts. The compensation committee and board of directors set the targets and have discretion over final payouts. The plan includes a scale for bonus payouts, with specific percentages tied to performance levels, and no bonus awarded for achievement below 93% of the target.

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EX-10.11 3 a5356432-ex1011.htm EXHIBIT 10.11 Exhibit 10.11
 
  Exhibit 10.11
 

2007 Executive Incentive Plan Targets
 
 
 
Senior Manager
2007 Executive Incentive Plan
Target as a Percentage
of 2007 Base Salary
   
Gary D. Blackford
85%
Rex T. Clevenger
75%
Timothy W. Kuck
70%
Joseph P. Schiesl
70%
Jeffrey L. Singer
70%
Walter T. Chesley
65%
David G. Lawson
65%
Diana Vance-Bryan
65%
   
   
   
Target Achievement *
Bonus Payout
   
110%
200%
105%
150%
100%
100%
99%
90%
98%
80%
97%
70%
96%
60%
65%
50%
94%
40%
93%
30%
<93%
zero

             
             
 
* The target is set by the compensation committee and the board of directors
   
 
Scale Methodology
          
             
 
Directionally, every 1% variance to Target has a 10 times multiplier, with bookends
 
at 110% and 93%, subject to to the discretion of the compensation
 
committee and the board of directors.