2018 Annual Incentive Compensation Plan Metrics Approval by Compensation Committee

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

The Compensation Committee of the Company's Board of Directors approved the performance goals and business criteria for the 2018 Annual Incentive Compensation Plan. This plan covers cash awards for 2018 participants, including executive officers. Awards are based on achieving specific targets in company revenue, adjusted EBIT margin, operating cash flow, and quality, each with assigned weightings. Depending on how well these targets are met, participants can earn between 0% and 200% of their target award.

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EX-10.1 3 f03312018exhibit101.htm EXHIBIT 10.1 Exhibit


Exhibit 10.1

Annual Incentive Compensation Plan Metrics for 2018


On February 7, 2018, the Compensation Committee of the Board of Directors of the Company approved the specific performance goals and business criteria to be used for purposes of determining any future cash awards for 2018 participants, including executive officers, under the Company’s shareholder-approved Annual Incentive Compensation Plan (filed as Exhibit 10.2 to the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2008). The Corporate performance criteria and weightings to be used for 2018 under the plan include attaining specified levels of:

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Company Revenue (20%)

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Company Adjusted EBIT Margin (30%)

•
Company Operating Cash Flow (30%)

•
Quality (20%)

Based on business performance results for 2018 against the targeted levels established for each metric, the Compensation Committee will determine the percentage of the target award that is earned, which could range between 0% and 200% depending on actual performance achieved relative to the target levels.