2005 Amphenol Management Incentive Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines Amphenol Corporation's 2005 Management Incentive Plan, which provides cash bonuses to selected key employees based on their contributions to company performance and specific achievements. Eligible participants are designated management personnel, and bonuses are determined by factors such as financial results, customer satisfaction, and productivity. Payments are made after the plan year, subject to executive recommendation and committee approval, 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.

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EX-10.56 2 a2157800zex-10_56.htm EXHIBIT 10.56
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Exhibit 10.56


2005
AMPHENOL MANAGEMENT INCENTIVE PLAN

I.
Purpose

    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.

II.
Eligibility

    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.

III.
Plan Components

    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
      •
      Accomplishment 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

•
Generally, payments are made during the first calendar quarter 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.


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    Exhibit 10.56
2005 AMPHENOL MANAGEMENT INCENTIVE PLAN