% of Target
EX-10.26 2 a08-14718_1ex10d26.htm EX-10.26
EXHIBIT 10.26
Cellu Tissue Holdings Inc.
Corporate Bonus Plan
Fiscal 2008
Background Principal: To eliminate the previous history of cliff bonus programs and institute a plan that pays out a “sliding scale” once Adjusted EBITDA surpasses prior year results. Maximum Payout (as defined by employee)is achieved at budget EBITDA of $49MM.
| Fiscal 2008 Adj. |
| % of Target |
|
| EBITDA $(MM) |
| Payout |
|
| 44.0 |
| 50 | % |
| 44.5 |
| 55 | % |
| 45.0 |
| 60 | % |
| 45.5 |
| 65 | % |
| 46.0 |
| 70 | % |
| 46.5 |
| 75 | % |
| 47.0 |
| 80 | % |
| 47.5 |
| 85 | % |
| 48.0 |
| 90 | % |
| 48.5 |
| 95 | % |
| 49.0 |
| 100 | % |
| 51.0 or greater |
| 120 | % |
| Add’l Background Information: |
|
|
| |
| Prior Year Base Line |
|
|
| |
|
|
|
|
| |
| Base Cellu |
| $ | 30.00 |
|
| City (11 months) |
| $ | 13.66 |
|
|
|
| $ | 43.66 |
|
Adjusted EBITDA as defined by the Cellu Tissue Monthly Reporting Package
Maxium payout for Fiscal 2008 is 100%.
