Computer Network Technology Corporation 2002 Annual Bonus Plan
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Summary
Computer Network Technology Corporation's 2002 Annual Bonus Plan is an incentive program for executives and employees. It offers cash bonuses based on the company's pre-tax profitability for the year. Each employee's bonus is calculated using their base pay, a company-wide bonus factor tied to performance, and an individual participation rate reflecting their expected contribution. The plan aims to reward employees if the company meets or exceeds specific financial goals.
EX-10.7 8 c68839ex10-7.txt 2002 ANNUAL BONUS PLAN EXHIBIT 10.7 Computer Network Technology Corporation CNT's 2002 Annual Bonus Plan The Annual Bonus Plan, is an incentive program which provides executives and other employees with the opportunity to earn a cash bonus if we achieve certain levels of key performance measurements, with the level of bonus payment specifically tied to achievement of these measures. For 2001, the key performance measurements were revenue growth and pre-tax profitability. For 2002, the key performance measurement is pre-tax profitability. The annual bonus for employees is determined by multiplying their eligible base compensation by our Annual Bonus Plan factor and their individual annual bonus participation rate. Our Annual Bonus Plan factor is based on a chart which outlines payout percentages for achievement of defined levels of the key performance measurements. The annual bonus participation rate for each employee is based on the employee's expected level of contribution to our overall financial performance.
