Executive Bonus Plan Schedule for Fiscal Year 2009
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Summary
This agreement outlines the Executive Bonus Plan for the 2009 fiscal year, specifying how bonuses are calculated for executives based on a percentage of their annual base pay. The bonus amount depends on the company's achievement of budgeted operating profit goals and compliance audit scores. To qualify for a bonus, the company must achieve an average compliance audit score of at least 3.5. The plan includes a tiered payout structure, with higher bonuses awarded for exceeding profit targets, and no bonus if less than 90% of the profit goal is achieved.
EX-10.2 3 exhibit2.htm EX-10.2 EX-10.2
EXECUTIVE BONUS PLAN SCHEDULE
Pursuant to the Fiscal Year 2009 Campus Support Bonus Plan
Award as a % of Annual Base Pay | Component | |||||||||||
Target % | [ ] | % | Company Budgeted Operating Profit | 100 | % | |||||||
Maximum % | [ ] | % | ||||||||||
Gate | ||||||||||||
Compliance - The company must receive an annual average compliance audit score of | ||||||||||||
3.5 or better to achieve a bonus award. | ||||||||||||
|
Company Budgeted Operating Profit Payout Tiers (1) | ||||||||
% of Operating Profit Goal Achieved | % of Bonus Target Earned | |||||||
Maximum | = 130.0 | % | 200.0 | % | ||||
124.00 | % | 180.0 | % | |||||
118.00 | % | 160.0 | % | |||||
112.00 | % | 140.0 | % | |||||
106.00 | % | 120.0 | % | |||||
Target | 100.00 | % | 100.0 | % | ||||
98.00 | % | 88.0 | % | |||||
96.00 | % | 76.0 | % | |||||
94.00 | % | 64.0 | % | |||||
92.00 | % | 52.0 | % | |||||
90.00 | % | 40.0 | % | |||||
= 90.0 | % | 0.00 | % | |||||
(1) | Awards for performance levels shown are calculated using interpolation between points. |