Summary of 2002 Senior Executive Incentive Plan for Dennis Ganster and Other Executives
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Summary
This agreement outlines the 2002 Senior Executive Incentive Plan for Dennis Ganster and other senior executives. It provides for a bonus—50% of base salary for Ganster and 40% for other executives—if specific performance goals are met. Half of the bonus depends on net revenue growth and the other half on earnings per share targets. Actual bonus amounts may vary based on performance, and executives must be employed at the time of payment to receive the bonus.
EX-10.01 4 k66087ex10-01.txt SUMMARY OF 2002 SENIOR EXECUTIVE INCENTIVE PLAN EXHIBIT 10.01 SUMMARY OF 2002 SENIOR EXECUTIVE INCENTIVE PLAN A targeted bonus equal to 50% of Dennis Ganster's base compensation and 40% of the base compensation of the other senior executives is payable for the fiscal year 2002 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.
