Bonus Arrangement for Vice-President – Product Procurement, Marketing, and Logistics (Fastenal Company)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the bonus plan for Fastenal Company's Vice-President of Product Procurement, Marketing, and Logistics. The Vice-President is eligible for a quarterly bonus, which is determined by how much the company's consolidated pre-tax income for the current quarter exceeds that of the same quarter in the previous year. The arrangement ties the bonus directly to the company's financial performance, incentivizing the Vice-President to help increase profits.

Read More Arrow
EX-10.6 6 dex106.htm DESCRIPTION OF BONUS FOR VICE-PRESIDENT - PRODUCT PROCUREMENT & MARKETING Description of Bonus for Vice-President - Product Procurement & Marketing

Exhibit 10.6

 

Bonus Arrangement for Vice-President – Product Procurement, Marketing, and Logistics

 

Fastenal Company’s Vice-President – Product Procurement, Marketing, and Logistics 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.