2005 Executive Officer Bonus Plan Form

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2005 bonus plan for executive officers, specifying that bonuses are based on achieving certain revenue and operating income targets, with operating income weighted at 60% and revenue at 40%. Bonuses are paid quarterly, with the amount varying depending on performance against set targets. The Board retains discretion to adjust bonus amounts or award additional bonuses based on company performance or other circumstances. The plan provides a table showing potential bonus percentages based on different levels of revenue and operating income achievement.

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EX-10.1 2 dex101.htm FORM OF OFFICER EXECUTIVE BONUS PLAN FOR 2005 Form of Officer Executive Bonus Plan for 2005

Exhibit 10.1

 

Form of Executive Officer Bonus Plan – 2005

 

Assumptions:

 

Focus

  

Operating Income weighted 60%, Revenue weighted 40%

Payment

  

Quarterly

Opportunity

  

Total quarterly opportunity is $[target amount].

 

At plan of 100% of revenue and operating income per quarter the bonus would be $[target amount] which is 54% of the total opportunity.

 

At plan of 125% of revenue and operating income per quarter the bonus would be $[target amount] which is 100% of the total opportunity.

Quarterly Minimums

  

Break even, 80% of revenue plan

Board Discretion

   This bonus table is for guideline purposes only – actual amounts may vary. In addition, the Board may in its discretion award bonuses on a quarterly or annual basis based on operating performance, corporate events or other circumstances which in the Board’s discretion is warranted.

Executive

  

[Name]

 

Quarterly Bonus Potential Table

 

%Revenue

    Operating Income
  
   Break
Even
    

Above

80%

    

Above

90%

    

100%

     Above
100%
     Above
110%
     Above
120%
  

Under 80%

    10 %   16 %   22 %   34 %   40 %   52 %   64 %

80%

    14 %   20 %   26 %   38 %   44 %   56 %   68 %

85%

    18 %   24 %   30 %   42 %   48 %   60 %   72 %

90%

    22 %   28 %   34 %   46 %   52 %   64 %   76 %

95%

    26 %   32 %   38 %   50 %   56 %   68 %   80 %

100%

    30 %   36 %   42 %   54 %   60 %   72 %   84 %

110

    38 %   44 %   50 %   62 %   68 %   80 %   92 %

125

    46 %   52 %   58 %   70 %   76 %   88 %   100 %