Amphenol Corporation 2006 Management Incentive Plan
This agreement outlines Amphenol Corporation's 2006 Management Incentive Plan, which provides cash bonuses to selected key employees based on their contributions and performance. Eligible participants are designated management personnel, including senior managers and corporate staff, as chosen by the company's top executives. Bonus payments depend on various performance factors such as financial results, customer satisfaction, and productivity improvements. Payments are made within 90 days after the plan year, with a maximum payout of twice the target bonus. Employees must be active at the time of payment to qualify, unless an exception is approved by company leadership.
Exhibit 10.48
2006
AMPHENOL MANAGEMENT INCENTIVE PLAN
| I. | Purpose |
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| The purpose of the plan is to reward eligible key employees of Amphenol Corporation and affiliated operations with cash bonus payments based on contributions to overall results and specific accomplishments. | ||
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| II. | Eligibility |
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| Select management personnel, as designated by the Chairman, President and CEO. Generally, participation includes senior management positions, corporate staff managers, general managers and their designated direct reports. | ||
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| III. | Plan Components |
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| There are several key performance factors that are considered by executive management and the Compensation Committee. These include, but are not limited to, the following: | ||
•Year-over-year improvement
•Accomplishments against budget
•Customer satisfaction
•Quality management
•New market/new product positioning
•Cost reductions/productivity improvements
•Balance sheet management
•Unit and Group contribution to total Amphenol performance
•Overall Amphenol performance
Financial performance for each unit is measured by revenues, operating income, cash flow and ROI. Financial performance for total Group and Amphenol includes these same factors and EPS growth.
IV. Administration
•Payments are made during the first 90 calendar days following the plan year. All payments are subject to the recommendation of the Chairman, President and CEO and the approval of the Compensation Committee.
•Payments are based upon average base salary during the plan year (new hires will be prorated accordingly if hired after February 1st of the plan year).
•The maximum allowable payout under the plan is 2x the target bonus as applied to average base salary.
•To be eligible for the bonus payment, a participant must be an active employee on the payroll at the time when the bonus payment is issued. Exceptions must be recommended by the Chairman, President and CEO and be approved by the Compensation Committee.
