February 1996 all of the stock of Louis Harris and Associates, Inc., headquartered in New York
EX-10.4.28 6 l36775exv10w4w28.htm EX-10.4.28 exv10w4w28
Exhibit 10.4.28
SALARY AND BONUS ARRANGEMENTS WITH EXECUTIVE OFFICERS AND TERMS OF FISCAL
2010 BONUS PLANS
2010 BONUS PLANS
On August 19, 2009, the Compensation Committee of the Board approved the base salaries and target bonus amounts under the Companys fiscal 2010 Corporate Bonus Plan (the Bonus Plan) for the Companys executive officers (the Executive Officers). The Bonus Plan is designed to establish a pool of funds (the Bonus Pool) to be available for making bonus payments to the Executive Officers as well as certain other employees of the Company if the Company, on a consolidated basis, achieves budgeted fiscal 2010 operating income (the Financial Target), as approved by the Board in connection with establishing the Companys fiscal 2010 annual budget. The percentage achievement of the Financial Target (the Funding Percentage) determines the extent to which the Bonus Plan is funded, as follows: the Bonus Plan will be fully funded if the Company achieves 100% of the Financial Target or will be funded at reduced levels if the Company achieves 95%, 90%, 85% or 80% of the Financial Target. The Bonus Plan will not be funded if the Company achieves less than 80% of the Financial Target. The Board, in its discretion, may increase the size of the bonus pool if the Company achieves greater than 100% of the Financial Target. Each Executive Officer (other than Patti Hoffman, Interim Head of Human Resources) is entitled to a bonus amount equal to 70% of his or her target bonus amount multiplied by the Funding Percentage, plus an additional bonus amount equal to thirty percent 30% of his or her target bonus amount multiplied by the Funding Percentage based upon his or her level of achievement of individual qualitative strategic goals and other metrics, as determined by the Board, in its discretion, in the case of the Companys Chief Executive Officer, and as determined by the Executives manager, in his or her discretion, in the case of the other Executive Officers.
The base salary and target bonus amounts (in U.S. dollars except as noted) for the Executive Officers are as follows:
Executive Officer | Base Salary | Target Bonus Amount | ||||||
Kimberly Till (President and CEO) | $ | 600,000 | $ | 600,000 | ||||
Robert Cox (EVP, CFO and Treasurer) | $ | 305,000 | $ | 152,500 | ||||
George Terhanian (President, Global Solutions) | $ | 300,000 | $ | 100,000 | ||||
Enzo Micali (Global EVP, Operations and Technology) | $ | 295,000 | $ | 118,000 | ||||
Frank Forkin (President, North America Client Services) | $ | 275,000 | $ | 110,000 | ||||
Robert Salvoni (Managing Director, Europe) | 160,000 (GBP) | 64,000 (GBP) | ||||||
Patti Hoffman (Interim Head of Human Resources) | $ | 228,000 | N/A | |||||
Eric Narowski (Principal Accounting Officer and SVP, Global Controller) | $ | 174,300 | $ | 34,000 |