Jack Henry & Associates, Inc. 2007 General Manager Bonus Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Jack Henry & Associates, Inc. has established a 2007 bonus plan for its non-commissioned General Managers, General Counsel, Corporate Secretary, and Controller. Under this plan, eligible participants may receive a performance-based cash bonus of up to 45% of their annual salary, depending on the company's earnings per share (EPS) growth for the fiscal year. No bonus is paid unless the company achieves at least 14% EPS growth. Half of the bonus is based on company performance, and the other half depends on individual objectives set by supervisors.

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EX-10.26 3 exh10-26.txt 2007 GENERAL MANAGER BONUS PLAN EXHIBIT 10.26 2007 General Manager Bonus Plan ------------------------------- The Board of Directors of Jack Henry & Associates, Inc. hereby establishes the following as the 2007 General Manager Bonus Plan for the company's non-commissioned General Managers, General Counsel, Corporate Secretary, and Controller (the "General Managers") this 31st day of August, 2006: Following the end of the current fiscal year (July 1, 2006 - June 30, 2007), the General Managers shall be paid a performance-based bonus of up to the percentage of their annual salary paid during the fiscal year set forth in the following table. No bonuses shall be paid under this plan to any General Manager unless the company attains a growth in earnings per share (the "EPS Goal") of at least 14% for the current fiscal year. If the EPS Goal is attained, then the General Manager shall be eligible for a cash bonus of up to the following percentage of his or her base annual salary: EPS Goal Bonus Percentage -------- ---------------- 14% 7.5% 15% 20% 16% 25% 17% 30% 18% 35% 19% 40% 20% 45% Half of the bonus amount would be paid to each of the General Managers upon attainment of the EPS Goal. The remaining half of the bonus amount shall be paid to a General Manager if specific departmental or other objectives are attained by the General Manager. These specific objectives for each General Manager shall be established by the executive officer to whom the General Manager reports.