Aetrium Executive Officer Profit Sharing Program Description
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Profit Sharing Plans
Summary
Aetrium's Executive Officer Profit Sharing Program, authorized by the Compensation Committee in 2004, is a quarterly cash incentive plan for executive officers. The program allows the committee to award up to 10% of the company's pre-tax operating income each quarter as bonuses, based on the company's profitability and cash flow. Individual bonus amounts are determined by the committee after reviewing each executive's contributions to the company's success during the quarter.
EX-10.1 2 ex10-1.htm DESCRIPTION OF EXECUTIVE OFFICER PROFIT SHARING PROGRAM Description of Executive Officer Profit Sharing Program
Exhibit 10.1
AETRIUM EXECUTIVE OFFICER PROFIT SHARING PROGRAM
In 2004, our Compensation Committee authorized an Executive Officer Profit Sharing Program. The Executive Officer Profit Sharing Program is a cash-based quarterly incentive program designed to focus our executive officers’ attention on achieving quarterly profitability. Under the Executive Officer Profit Sharing Program, the Compensation Committee has the discretion to award up to an aggregate of 10% of our pre-tax operating income (before such awards) for the quarter as cash bonuses to our executive officers based upon our profitability and cash flow for the quarter. The Compensation Committee then determines individual executive bonuses after evaluating each individual executive’s contributions to the success of our operations for the quarter.
