2007 Senior Management Incentive Bonus Plan
Exhibit 10.9
2007 Senior Management Incentive Bonus Plan
| Participants: | Marc D. Grodman, MD, CEO |
|
| Howard Dubinett, COO |
|
| Sam Singer, CFO |
|
| Charles T. Todd, Sr. VP Marketing & Sales |
|
| John Littleton, VP Sales |
|
| Warren Erdmann, VP Operations |
|
| Sally Howlett, VP Billing |
|
| Nick Papazicos, VP Financial Operations |
|
| Nick Cetani, VP Laboratory Director |
|
| James Weisberger, MD, CMO |
|
| Maryanne Amato, Director, Genpath |
|
| Richard L. Faherty, CIO |
Proposed Plan:
A. The Senior Management Incentive Bonus Plan will be based on Operating Income as a per cent of Total Net Revenues pursuant to the standard financial documents of the Company.
B. There will be one class of participation.
C. Operating Income shall consist of the Total Operating Income (hereinafter referred to as “TOI”) for the Entire Company including all divisions and subsidiaries.
D. In the event that TOI shall be equal to or greater than 10% then and in such event, the participants will be entitled to a bonus based on the participant’s annual gross wages exclusive of any bonus, option exercise, auto expense charge-back,or other unearned revenue, pursuant o the following schedule:
| If TOI is greater than |
| and less than |
| Percent Bonus |
|
| 9.99 | % | 10.51 | % | 10 | % |
| 10.50 | % | 11.01 | % | 15 | % |
| 11.00 | % | 11.51 | % | 20 | % |
| 11.50 | % | 12.01 | % | 25 | % |
| 12.00 | % | 12.51 | % | 30 | % |
| 12.50 | % | 13.01 | % | 35 | % |
| 13.00 | % | 13.51 | % | 40 | % |
| 13.50 | % | 14.01 | % | 50 | % |
| 14.00 | % |
|
|
|
|
E. The maximum bonus to be paid under this program will be 50% of annual wages regardless of TOI.
1
