2017 Cash Bonus Plan for Executive Officers and Employees

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2017 Cash Bonus Plan for executive officers, vice presidents, directors, managers, and individual contributors of the company. Bonus payouts are determined as a percentage of base salary and are based on achieving specific financial and management objectives. The plan specifies different payout structures and target percentages for each employee group, with higher-level executives' bonuses tied entirely to financial targets and other employees' bonuses based on a mix of corporate and individual objectives.

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EX-10.1 2 amended2017cashbonusplan.htm EXHIBIT 10.1 Exhibit
Exhibit 10.1

2017 Cash Bonus Plan

Eligible Employees: Executive Officers, Vice Presidents, Directors, Managers, and Individual Contributors

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Bonus target payouts based on a percentage of base salary;

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Payouts to CEO, CFO , COO and Vice President, General Counsel & Secretary will be entirely based on achievement of certain minimum targets, and 200% payable upon the achievement of certain maximum target levels;

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Payouts to other VPs are based 50% on corporate targets, and 50% on management business objectives;

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Payouts to Directors are based 30% on corporate targets, and 70% on management business objectives;

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Payouts to Managers are based 0% on corporate targets, and 100% on management business objectives;

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Payouts to Individuals Contributors are based 0% on corporate targets, and 100% on management business objectives;

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Bonus targets are as follows (expressed as a percentage of base salary):

        
 
 
Target Payout
 
Financial Weight (Adj. EBITDA)
 
Management Business Objectives Weight
CEO
 
75%
 
100%
 
0%
CFO
 
50%
 
100%
 
0%
COO
 
50%
 
100%
 
0%
VP & General Counsel
 
40%
 
100%
 
0%
VPs
 
25%
 
50%
 
50%
Directors
 
15%
 
30%
 
70%
Managers
 
10%
 
0%
 
100%
Individual Contributors
 
5%
 
0%
 
100%