EX-10.7 SUMMARY OF SENIOR EXECUTIVE 2005 SUPPLEMENTAL BONUS PLAN
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- Bonus & Incentive Agreements
EX-10.7 7 g96252exv10w7.txt EX-10.7 SUMMARY OF SENIOR EXECUTIVE 2005 SUPPLEMENTAL BONUS PLAN EXHIBIT 10.7 SUMMARY OF SENIOR EXECUTIVE 2005 SUPPLEMENTAL BONUS PLAN Our Chief Financial Officer and our Vice Presidents (collectively, the "Senior Executives") are eligible for performance-based awards for the 2005 fiscal year under our Senior Executive 2005 Supplemental Bonus Plan. If the company attains its targeted Adjusted EBITDA, the company will create a bonus pool from a portion of the incremental earnings above the performance goals. Bonuses will be paid from the pool at the discretion of the Chief Executive Officer. All eligible participants will receive a minimum of one-half of the participant's pro-rated share of the pool provided the participant's performance is at a "meets expectations" level or above, and no one individual will receive more than two times his or her pro-rata share. Senior Executives that have been in their position less than 12 months as of December 31, 2005 will receive a pro-rated bonus based on their total time in the Senior Executive position.
