Bonus Arrangement for Chief Executive Officer and President of Fastenal Company

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the bonus plan for Fastenal Company's Chief Executive Officer and President. The bonus is determined each quarter by comparing the company's consolidated pre-tax income for that quarter to the same quarter in the previous year. If the current quarter's pre-tax income exceeds that of the prior year, the CEO and President receive a bonus based on the amount of the increase.

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EX-10.1 3 dex101.htm DESCRIPTION OF BONUS FOR CEO & PRESIDENT Description of Bonus for CEO & President

Exhibit 10.1

 

Bonus Arrangement for Chief Executive Officer and President

 

Fastenal Company’s Chief Executive Officer and President is paid a bonus under an individual bonus arrangement. Under this arrangement, the bonus for any quarter is calculated based on the amount by which the Company’s consolidated pre-tax income for such quarter exceeds the Company’s consolidated pre-tax income for the same quarter in the prior year.