2005 Executive Incentive Plan Targets for Senior Management
This document outlines the 2005 bonus targets for senior managers, including Gary D. Blackford, Rex T. Clevenger, Joseph P. Schiesl, Walter T. Chesley, Jeffrey L. Singer, and David G. Lawson. The plan specifies each executive's bonus as a percentage of their base salary, with payouts based on the achievement of set performance targets. Bonus amounts increase or decrease depending on the percentage of target achievement, with no payout for results below 93% of the target. The targets are set by the board of directors and are based on EBITDA performance.
Exhibit 10.19
2005 Executive Incentive Plan Targets
| Senior Manager | 2005 Bonus Target % (of 2005 Base Salary unless otherwise indicated) | ||
| Gary D. Blackford | 85 | % | |
| Rex T. Clevenger | 65 | % | |
| Joseph P. Schiesl | 65 | % | |
| Walter T. Chesley | 60 | % | |
| Jeffrey L. Singer | 60 | % | |
| David G. Lawson | 60 | % |
| Target* | Bonus Payout | ||
| 110% | 200 | % | |
| 105% | 150 | % | |
| 100% | 100 | % | |
| 99% | 90 | % | |
| 98% | 80 | % | |
| 97% | 70 | % | |
| 96% | 60 | % | |
| 95% | 50 | % | |
| 94% | 40 | % | |
| 93% | 30 | % | |
| < 93% | zero |
| * | The Target is set by the board of directors |
Scale Methodology
Every 1% variance to Target has a 10x multiplier, with bookends at 110% and 93% EBITDA Achievement. Interpolation between rungs if needed.
