RETENTION BONUS PLAN
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.1 3 dex101.htm RETENTION BONUS PLAN Retention Bonus Plan
EXHIBIT 10.1
RETENTION BONUS PLAN
| Participants | Payment Date | Bonus Payment | ||
| Jack W. Oehlke | 08/01/03 | $ 211,250 | ||
| President & CEO | 08/02/04 | 243,750 | ||
| 08/01/05 | 276,250 | |||
| Craig D. Gates | 08/01/03 | 119,000 | ||
| Executive Vice President & General Manager | 08/02/04 | 142,800 | ||
| 08/01/05 | 166,600 | |||
| Ronald F. Klawitter | 08/01/03 | 119,000 | ||
| Executive Vice President & CFO | 08/02/04 | 142,800 | ||
| 08/01/05 | 166,600 | |||
| Total Plan Bonus Payments | $1,588,050 |
Terms
| • | In order to earn and receive the bonus payment on the payment date, the participant must be employed by the Company on the payment date or have been terminated by the Company without cause. |
| • | Bonus payments shall be reduced by the amount of any incentive payments earned by a participant pursuant to any other Company incentive plan during the fiscal year immediately preceding the payment date. |
Approved by Board of Directors – October 24, 2002.
