Fiscal Year 2010 Executive Bonus Plan Schedule
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Summary
This agreement outlines the Fiscal Year 2010 Executive Bonus Plan for eligible executives. The bonus is based on a percentage of the executive's annual base pay and is tied to the company's achievement of budgeted operating profit goals. To qualify for a bonus, the company must also achieve an average annual compliance audit score of at least 3.5. The amount of the bonus increases as higher percentages of the operating profit goal are met, with specific payout tiers and a maximum bonus cap. Awards are calculated using interpolation between the defined performance levels.
EX-10.2 3 exhibit2.htm EX-10.2 EX-10.2
EXECUTIVE BONUS PLAN SCHEDULE
Pursuant to the Fiscal Year 2010 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 | = 120.0% | 200.0 | % | |||
116.00% | 180.0 | % | ||||
112.00% | 160.0 | % | ||||
108.00% | 140.0 | % | ||||
104.00% | 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. |