Electromed, Inc. Fiscal Year 2025 Officer Bonus Plan Description

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Electromed, Inc. has established a bonus plan for its officers, including the CEO and CFO, for the fiscal year ending June 30, 2025. The plan offers annual cash bonuses based on the company's revenue growth and earnings before taxes compared to the previous fiscal year. Bonus targets are set at 50% of base salary for the CEO and 40% for the CFO. Payouts depend on performance, with no bonus for results below minimum thresholds, partial bonuses for results between minimum and target, and up to 250% of the target payout for exceeding targets.

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EX-10.23 2 elmd240883_ex10-23.htm DESCRIPTION OF FISCAL YEAR 2025 OFFICER BONUS PLAN

Exhibit 10.23

 

Fiscal Year 2025 Officer Bonus Plan

 

The Personnel and Compensation Committee of the Board of Directors of Electromed, Inc. (the “Company”) has established the Fiscal Year 2025 Officer Bonus Plan (the “Bonus Plan”) for officers of the Company, including its named executive officers. The Bonus Plan is effective for the fiscal year ending June 30, 2025 and provides an opportunity for each participant to earn an annual cash bonus based on Company revenue growth and earnings before taxes (“EBT”) versus the fiscal year ended June 30, 2024. The committee has established target payouts of 50% and 40% of annual base salary for our Chief Executive Officer and Chief Financial Officer, respectively, under the Bonus Plan. The following summarizes the potential payments under the Bonus Plan:

 

●Company revenue or EBT growth below minimum performance will not result in any payouts under the Bonus Plan. Revenue growth will be weighted at 67% and EBT growth weighted at 33%.
●Company revenue and EBT growth between minimum and target performance will result in a potential bonus payout starting at 40% and increasing up to a total of 100% of the participant’s respective target payout depending on the growth mix between revenue and EBT.
●Company revenue and EBT growth above target performance will result in a potential bonus payout equal to 100% or more of the participant’s respective target payout up to 250% of target payout.