ATP Oil & Gas Corporation Discretionary Bonus Policy
ATP Oil & Gas Corporation has established a Discretionary Bonus Policy to reward employees who show outstanding performance. All employees are eligible, regardless of their position or length of service. Bonuses are not guaranteed and are awarded at the sole discretion of the President, with input from the employee’s immediate supervisor. Employees who leave the company lose eligibility for future bonuses under this policy.
Exhibit 10.17
ATP OIL & GAS CORPORATION
DISCRETIONARY BONUS POLICY
PURPOSE: The purpose of the ATP Discretionary Bonus Policy is to share the success achieved by the Company with its employees who demonstrate exemplary performance. If made, the Discretionary Bonus may be in addition to current compensation and an employee’s participation in any other benefits offered by ATP.
CRITERIA FOR PARTICIPATION: The Discretionary Bonus Policy applies to all employees of ATP (Eligible Employee) regardless of tenure, title or responsibility.
ADMINISTRATION OF THE DISCRETIONARY BONUS POLICY: Any and all bonuses to Eligible Employees under the Discretionary Bonus Policy are discretionary by the President.
PAYMENTS: Payments to Eligible Employees will be made at the direction of the President and the Eligible Employee’s immediate supervisor. If an employee leaves the employment of ATP, the Eligible Employee will cease to participate in the Discretionary Bonus Policy and forfeit any right to future distributions from this policy.
