Casella Waste Systems, Inc. Executive Officer Cash Bonus Plan for Fiscal 2007
Casella Waste Systems, Inc. has established a cash bonus plan for its executive officers for fiscal year 2007. The plan awards bonuses based on the company's performance in EBITDA, return on net assets, and earnings per share, as well as the achievement of personal goals. Bonuses are allocated as follows: 40% for EBITDA targets, 25% each for earnings per share and return on net assets, and 10% for personal goals. The actual bonus amount may vary depending on whether these targets are met, exceeded, or not achieved.
EXHIBIT 10.2
Written Description of Cash Bonus Plan for Executive Officers
On June 15, 2006, the Compensation Committee of the Board of Directors of Casella Waste Systems, Inc. (the “Company”) approved a cash bonus plan for the executive officers of the Company for fiscal 2007 (the “Bonus Plan”). The Bonus Plan provides for the payment of a cash bonus based on the Company’s EBITDA, return on net assets and earnings per share for the fiscal year ending April 30, 2007. An aggregate of 40% of the bonus will be paid upon the achievement of target EBITDA levels; 10% upon the achievement of specific personal goals; 25% will be paid upon the achievement of target earnings per share; and 25% will be paid upon the achievement of target return on net asset levels. A greater or lesser amount may be paid in the event the targets are exceeded or not met.
