Executive Leadership Bonus Plan Schedule for Fiscal Year 2011
This agreement outlines the Executive Leadership Bonus Plan for the 2011 fiscal year, specifying how bonuses are awarded to executives based on the company's operating profit and compliance audit scores. Executives are eligible for a bonus as a percentage of their annual base pay, with the payout amount determined by the company's achievement of budgeted operating profit targets and a minimum compliance audit score of 3.5. The plan includes a tiered payout structure, with higher company profits resulting in larger bonus percentages.
Exhibit 10.2
EXECUTIVE LEADERSHIP
BONUS PLAN SCHEDULE
Pursuant to the Fiscal Year 2011 Campus Support Bonus Plan
Award as a % of Annual Base Pay | Components | |||||||||||||||||||||||||||||||||||||||
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 under both company operating profit and management objectives. |
Company Budgeted Operating Profit Payout Tiers (1)
% of Operating Profit Goal Achieved | Company Profit Portion as % Salary | |||||||||
Maximum | ³ | 130.0 | % | 200.0 | % | |||||
124.0 | % | 180.0 | % | |||||||
118.0 | % | 160.0 | % | |||||||
112.0 | % | 140.0 | % | |||||||
106.0 | % | 120.0 | % | |||||||
Target | 100.0 | % | 100.0 | % | ||||||
98.0 | % | 66.0 | % | |||||||
96.0 | % | 57.0 | % | |||||||
94.0 | % | 48.0 | % | |||||||
92.0 | % | 39.0 | % | |||||||
90.0 | % | 30.0 | % | |||||||
< | 90.0 | % | 0.0 | % |
(1) Awards for performance levels shown are calculated using interpolation between points.