2001 Corporate Executive Incentive Bonus Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2001 Incentive Plan for corporate executives, specifying that executives are eligible to receive a bonus based on the company's performance against its annual budget. The actual bonus amount can range from 0% to 175% of the target, depending on how the company performs relative to set financial targets. Adjustments to targets may be made for acquisitions or capital expenditures, as agreed by the Compensation Committee and Executive Management. Certain extraordinary items are excluded from the performance calculation. The plan is designed to reward executives for meeting or exceeding company goals.

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EX-10.4 12 a2045959zex-10_4.txt EXHIBIT 10.4 EXHIBIT 10.4 PORTIONS OF THE EXHIBIT MARKED BY "*" HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT UNDER RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. THE COMPLETE EXHIBIT, INCLUDING THE PORTIONS FOR WHICH CONFIDENTIAL TREATMENT HAS BEEN REQUESTED, HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION 2001 INCENTIVE PLAN For the 2001 fiscal year, a corporate executive will be awarded 100% of his or her target bonus amount (target amounts established at the Feb. 8th Compensation Committee) if the Company's ****** reaches its established budget for the year (************). An employee's actual bonus may vary above and below his or her target according to the schedule below: ******* Bonus Amount Below ************** No bonus amount *********** to *********** 50% - 100% of target on a pro rata basis *********** to *********** 100% - 150% of target on a pro rata basis *********** to *********** 150% - 175% of target on a pro rata basis Adjustments to the ******* targets shown above will be made for acquisitions made during the year in amounts agreed upon by the Compensation Committee and Executive Management of the Company. Adjustments to the ******* targets shown above will be made for capital expenditures that exceed the capital expenditure budget for fiscal 2001 in amounts agreed upon by the Compensation Committee and Executive Management. Actual ******* for the year used for incentive plan calculations will exclude ***************** such as ************************.