Kimball International, Inc. Discretionary Stock Compensation Authorization for Fiscal Year 2018

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Kimball International, Inc.'s Compensation and Governance Committee has authorized the CEO to grant up to 125,000 shares of discretionary stock compensation to eligible employees for fiscal year 2018. This compensation is intended to reward individual achievements not covered by standard incentive plans and may be awarded at the CEO's discretion. Eligible recipients include most employees, except Section 16 officers, and may also include employees of acquired companies or new hires. Any awards to Named Executive Officers require Committee approval. No employee is guaranteed to receive discretionary compensation.

Read More Arrow
EX-10.B 3 a10kexhibit10b06302017q4.htm KIMBALL INTERNATIONAL, INC. EXHIBIT 10.B Exhibit


Exhibit 10(b)
DISCRETIONARY COMPENSATION
Because special situations occur where individual achievement may not be adequately recognized under incentive plans, the Compensation and Governance Committee (the “Committee”), grants authority to the Chief Executive Officer to distribute additional discretionary stock compensation up to an aggregate maximum amount to eligible participants for each particular fiscal year.
For fiscal year 2018, the maximum number of shares approved by the Committee was 125,000 shares of Common Stock. The stock compensation which will be awarded under the Company's Amended and Restated 2003 Stock Option and Incentive Plan or its replacement, may be in the form of stock compensation awards, grants of shares pursuant to the Company's Enhanced Severance Plan, and/or outright grants of shares of Common Stock.  Discretionary stock compensation is awarded based upon individual effort and is paid in amounts and at such times as the Chief Executive Officer determines, in his sole discretion. No employee has a guaranteed right to discretionary compensation.
For awards of stock compensation, eligible participants include any employee of the Company (other than a Section 16 officer), any employee of companies acquired by the Company, or as part of an employment offer to potential employees of the Company. Any discretionary cash or stock awards to Named Executive Officers must be approved by the Committee.