Esmark Incorporated 2008 Management Incentive Plan Grant Agreement
This agreement outlines the terms of the 2008 Management Incentive Plan (MIP) for Esmark Incorporated. It specifies bonus payouts for eligible employees based on achieving certain company, shareholder, and individual performance objectives. Bonus amounts are set as a percentage of salary, with thresholds for minimum, target, and maximum payouts. Key conditions include the company achieving positive net income, a specified EBITDA target, and a 15% increase in shareholder value. The agreement was approved by the Board of Directors on April 29, 2008.
Exhibit 10.14(b)
ESMARK INCORPORATED
2008 MANAGEMENT INCENTIVE PLAN - MIP
NAME
TITLE
MIP INCENTIVE PAYOUT AS A % OF SALARY
| Threshold Bonus % (80% of Goals) | Target Bonus % (100% of Goals) | Maximum Bonus % (120% of Goals) | ||
| 20% | 40% | 80% |
Company Performance Objective
MIP Trigger: Net Income Positive
and
Esmark Incorporated Performance Objective: EBITDA of $129 Million
Shareholder Performance Objective
Meet or Exceed an Increase in Shareholder Value of 15% (Starting point as of 12/31/07)
NAME
TITLE
Individual Performance Objectives
| 1. |
| 2. |
| 3. |
| 5. |
| 6. |
Board of Director Approval: April 29, 2008
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