ICO, Inc. FY 2009 Annual Incentive Bonus Plan Matrix- CFO This page constitutes the FY 2009 Annual Incentive Bonus Plan for Bradley T. Leuschner, Chief Financial Officer. Pay-out as a percentage of base salary Measurement Weighting 0% 27% 54% Corporate Expenses (1) 25% * * * ICO, Inc. consolidated ROE 25% * * * ICO, Inc. consolidated Cash Flow from operations 25% * * * Subjective/Qualitative Factors 25% As recommended by CEO, and determined and approved by the Compensation Committee As recommended by CEO, and determined and approved by the Compensation Committee As recommended by CEO, and determined and approved by the Compensation Committee
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.1 2 exhibit10-1.htm EXHIBIT 10.1 FY2009 BONUS PLAN - CFO exhibit10-1.htm
Exhibit 10.1
| ICO, Inc. FY 2009 Annual Incentive Bonus Plan Matrix- CFO | ||||
| This page constitutes the FY 2009 Annual Incentive Bonus Plan for Bradley T. Leuschner, Chief Financial Officer. | ||||
| Pay-out as a percentage of base salary | ||||
| Measurement | Weighting | 0% | 27% | 54% |
| Corporate Expenses (1) | 25% | * | * | * |
| ICO, Inc. consolidated ROE | 25% | * | * | * |
| ICO, Inc. consolidated Cash Flow from operations | 25% | * | * | * |
| Subjective/Qualitative Factors | 25% | As recommended by CEO, and determined and approved by the Compensation Committee | As recommended by CEO, and determined and approved by the Compensation Committee | As recommended by CEO, and determined and approved by the Compensation Committee |
Measurement definitions
(1) Corporate Expenses- Defined as Corporate general and administrative expenses. [*]
ROE- Net income from continuing operations --- divided by Stockholders’ equity. For purposes of this calculation, Stockholders equity shall be averaged using the previous four (4) quarter – end balances, plus the year-end balance (i.e. the previous year-end balance plus the four quarter-end balances of fiscal year 2009).
Cash Flow from Operations – Cash flow from operating activities (on a consolidated basis) less capital expenditures. Cash Flow From Operations will be computed by taking a weighted average of each quarter’s cash flow (on a consolidated basis) and then calculating the annual cash flow amount as follows: Cash flow from operations will be equal to the sum of the first quarter cash flow times four, the second quarter cash flow by three, the third quarter cash flow by two and the fourth quarter cash flow by one. That sum will then be divided by 2.5
Computational note
For each measurement the bonus amount payable is calculated as the result achieved for each measurement (i.e. the 0%, 27% or 54% pay-out) times the weighting and multiplied by the CFO’s base salary. Results for each measurement falling between the targeted amounts adjust the pay-out targets by interpolating the percentage of: (i) the resulted achieved minus the lower threshold divided by, (ii) the difference between the higher and lower target, multiplied by (iii) the higher pay-out target percentage.
Additional Provisions
The CFO will not be entitled to a bonus under this Plan, or otherwise with respect to FY 2009, if, prior October 1, 2009 (a) he resigns from employment with the Company, or (b) he is terminated from employment “for cause” as defined in his employment agreement.
*Indicates redacted text
