2007 Bonus Plan for Indalex Employees

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the 2007 bonus plan for employees of Indalex. The bonus is based on the company's EBITDA performance for the year, with specific payout factors for different achievement levels. Bonuses are prorated between performance steps and cannot exceed 200% of the variable amount. To qualify for the bonus, employees must be employed by Indalex as of December 31, 2007. The EBITDA figures used to calculate the bonus are net amounts, calculated after all bonuses have been paid.

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EX-10.22 4 a2183674zex-10_22.htm EX 10.22
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Exhibit 10.22

                        's 2007 Bonus

2007 Base Salary:    
 
 

2007 Variable:
 
 
 
 

YTD (1/01/07 - 12/31/07) = 2007 EBITDA

    EBITDA   @       = 0% × factor
    EBITDA   @       = 100% × factor
    EBITDA   @       = 200% × factor

 
 
Note:
    • Bonus is prorated between steps.
    • Bonus can not exceed 200% of variable.
    • Must be employed by Indalex as of 12/31/07 to be eligible for bonus.
    • EBITDA amounts set forth above are net amounts (after all bonuses).


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    Exhibit 10.22