2005 Bonus Plan for Senior Management and Managers

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2005 Bonus Plan for the company's senior management and other managers. Bonuses are paid quarterly and are based on both company financial results and individual performance against management objectives (MBOs). For senior management, 75% of the bonus is tied to financial results and 25% to MBOs, while for other managers, the split is 50/50. The plan emphasizes financial metrics over strategic goals, with specific bonus percentages allocated each quarter. Financial objectives and individual MBOs are set before each quarter based on company priorities.

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EX-10.5 2 dex105.htm 2005 BONUS PLAN 2005 BONUS PLAN

Exhibit 10.5

 

2005 Bonus Plan

 

1. Quarterly bonus payouts based on Company financial results and individual performance vs. MBO’s.

 

  •   For senior management team, 75% of bonus amount based on financial results, 25% on individual MBO’s.

 

  •   For other managers, 50% of bonus amount based on financial results, 50% on individual MBO’s.

 

2. Unlike the 2004 plan, emphasis will be on financial metrics instead of corporate strategic goals.

 

3. Quarterly percentages of total annual bonus target are as follows:

 

Q1: 20%

 

Q2: 20%

 

Q3: 20%

 

Q4: 40% (based on quarterly and year-end results)

 

4. Financial Objectives (to be set prior to each quarter)

 

5. Individual MBO’s will be established based on company priorities