2005 Executive Bonus Structure Criteria

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the 2005 Executive Bonus Structure for company executives. Bonuses are based on two main criteria: 65% is linked to the company's pre-tax profit targets set by the Compensation Committee, and 35% is based on individual performance objectives. Eligible executives can earn a bonus of 25-35% of their annual base salary, with the possibility of an additional 2-5% if profits exceed set targets. The structure is designed to reward both company and individual performance within the year.

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EX-10.30 2 dex1030.htm 2005 EXECUTIVE BONUS STRUCTURE 2005 Executive Bonus Structure

Exhibit 10.30

 

2005 Executive Bonus Structure

 

Criteria (100% of eligible bonus as follows)

 

  •   65% tied to targeted pre-tax profit levels set by the Compensation Committee based on the Company’s prior year results and Plan for the current year, with payment amounts of zero, 50%, 75% or 100% based on performance levels against that Plan.

 

  •   35% tied to performance against individual MBOs with certain minimum pretax target requirements set by the Compensation Committee.

 

Opportunity

 

  •   25-35% of annual base salary (depending upon executive)

 

Other

 

  •   Additional upside opportunity of 2% to 5% of annual base salary if pre-tax profits reach levels established by the Compensation Committee in excess of the Company’s Plan.