Bonus Arrangement for Executive Vice-President, Treasurer, and CFO of Fastenal Company

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Fastenal Company has an individual bonus arrangement for its Executive Vice-President, Treasurer, and Chief Financial Officer. Under this agreement, the executive receives a quarterly bonus determined by how much the company's consolidated net income for the quarter exceeds a set percentage of that quarter's consolidated net sales. The arrangement outlines the calculation method but does not specify the exact percentage or other detailed terms.

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EX-10.2 4 dex102.htm DESCRIPTION OF BONUS FOR EXECUTIVE VICE-PRESIDENT, TREASURER & CFO Description of Bonus for Executive Vice-President, Treasurer & CFO

Exhibit 10.2

 

Bonus Arrangement for Executive Vice-President, Treasurer, and Chief Financial Officer

 

Fastenal Company’s Executive Vice-President, Treasurer, and Chief Financial Officer 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 net income for such quarter exceeds a percentage of such quarter’s consolidated net sales.