Fastenal Company Vice President of Sales Bonus Arrangement

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the bonus arrangement for Fastenal Company's Vice President of Sales. The Vice President is eligible for a quarterly bonus, which is determined by how much the company's net sales and consolidated pre-tax income for the quarter exceed those of the same quarter in the previous year. The arrangement incentivizes the Vice President to drive sales and profitability growth.

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EX-10.3 5 dex103.txt BONUS FOR VICE PRESIDENT OF SALES Exhibit 10.3 Vice President of Sales Bonus Arrangement Fastenal Company's Vice President of Sales is paid a bonus under an individual bonus arrangement. Under this arrangement, the bonus paid to the Vice President of Sales for any quarter is calculated based on the amounts by which the Company's net sales and consolidated pre-tax income for such quarter exceed, respectively, the Company's net sales and consolidated pre-tax income for the same quarter in the prior year.