Health Fitness Corporation 2006 Executive Bonus Plan
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Summary
Health Fitness Corporation's 2006 Executive Bonus Plan provides annual incentive bonuses to executive officers based on the achievement of specific financial and personal objectives. The Board of Directors sets the financial targets each year, including revenue, earnings, and profit contribution. The Chief Executive Officer and Chief Financial Officer can earn bonuses ranging from 15% to 50% of their base salary, while other executives may receive 10% to 30%, depending on how well the company meets its financial goals. No bonuses are awarded if less than 95% of the targets are achieved.
EX-10.29 9 c03883exv10w29.txt 2006 EXECUTIVE BONUS PLAN EXHIBIT 10.29 HEALTH FITNESS CORPORATION 2006 EXECUTIVE BONUS PLAN The Health Fitness Corporation Executive Bonus Plan for 2006 is designed to provide an annual incentive bonus to executive officers based on the achievement of certain financial objectives, as well as achievement of personal objectives. The financial objectives are set annually by the Board of Directors. Payments under the bonus plan that are based on the achievement of financial objectives include the following performance criteria: revenue, earnings before interest, taxes, depreciation and amortization, and profit contribution before corporate overhead expenses. The Chief Executive Officer and Chief Financial Officer may receive bonuses of between 15% and 50% of their base salary and other executive officers may receive between 10% and 30% of their base salary under this bonus plan. The level of bonus received corresponds with the Company achieving between 95% to 110% or more of budgeted financial objectives. No bonuses are earned on financial objectives for which the Company achieves less than 95% of the planned target.
