2003 Senior Executive Incentive Plan Summary
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Bonus & Incentive Agreements
Summary
This agreement outlines the 2003 Senior Executive Incentive Plan, which provides targeted bonuses to the company's president, senior vice president of operations, and other senior executives based on their base compensation. Bonuses are awarded if specific performance goals for net revenue growth and earnings per share are met. The actual bonus amount may vary depending on the company's performance, and executives must be employed at the time of payment to receive the bonus.
EX-10.33 5 k72009exv10w33.txt SUMMARY OF 2003 SENIOR EXECUTIVE PLAN SUMMARY OF 2003 SENIOR EXECUTIVE INCENTIVE PLAN EXHIBIT 10.33 A targeted bonus equal to 60% of the president's base compensation, 50% of the base compensation for the senior vice president of operations and 40% of the base compensation of the other senior executives is payable for the fiscal year 2003 upon achievement of performance goals. At the targeted bonus level, fifty percent of the bonus is based upon achievement of targeted net revenue growth (net of third party royalties) and fifty percent is based upon achievement of targeted earnings per share levels. Actual bonuses may be greater or lesser than the targeted bonus levels, dependent upon deviation in actual performance from performance goals. Participating senior executives must be employed by the Company at the date of the payment of the bonus.
