Heska Corporation 2014 Management Incentive Plan
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Summary
Heska Corporation's 2014 Management Incentive Plan outlines bonus opportunities for executives and directors based on company financial performance and individual achievements. Eligible participants include Executive Vice Presidents, Vice Presidents, Managing Directors, and Directors, with bonuses calculated as a percentage of base pay. The plan allocates 75% of the bonus to company-wide financial goals and 25% to individual performance, with payouts tied to operating income and revenue targets. Maximum total payouts are capped at $1,800,000, with any excess at the discretion of the Compensation Committee.
EX-10.10 6 ex10-10.htm 2014 MIP ex10-10.htm
Exhibit 10.10
Heska Corporation
2014 Management Incentive Plan
1. The Category Percentages for the 2014 MIP are as follows:
| Title | Heska MIP |
| Executive Vice President-level | 35.0% of base pay |
| Vice Presidents | 35.0% of base pay |
| Managing Director(s) | 25.0% of base pay |
| Directors | 25.0% of base pay |
| | Note: Due to role transitions, Category Percentages for Robert B. Grieve, Ph.D. and Kevin S. Wilson will be as provided in their respective employment agreements. |
2. The Plan Allocation for the 2014 MIP is as follows:
| | 75% on overall achievement of the company-wide financial objective and 25% on individual performance |
3. The Key Parameters for the 2014 MIP are as follows:
1) Pre-MIP Operating Income and 2) Revenue
4. The Payout Structure for the 2014 MIP is as follows:
| | 50% of Pre-MIP Operating Income in excess of $2,000,000, subject to an MIP Payout maximum contribution of $1,350,000 |
Plus
If Pre-MIP Operating Income is $3,250,000 or more, 2.50% of Revenue in excess of $85,000,000, subject to an MIP Payout maximum contribution of $450,000
The combined maximum payouts based on Pre-MIP Operating Income ($1,350,000) and Revenue ($450,000), total $1,800,000 and shall be known as the "Maximum MIP Payout". Any MIP payment in excess of the Maximum MIP Payout shall be at the sole and absolute discretion of the Compensation Committee.
