John G. Harp 2009 Additional Incentive Opportunity Agreement
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Summary
This agreement outlines a 2009 incentive opportunity for John G. Harp, tied to the financial performance of MDU Construction Services Group, Inc. If the company's 2009 return on invested capital exceeds its weighted average cost of capital by at least 100 basis points, Mr. Harp will receive a cash bonus of $100,000. If the excess is 200 basis points or more, the bonus increases to $200,000. The Compensation Committee will determine if the targets are met and recommend payment, which, if approved by the Board, will be made between January 1 and March 10, 2010.
EX-10.F 7 exhibit10f.htm JOHN G. HARP 2009 ADDITIONAL INCENTIVE OPPORTUNITY exhibit10f.htm
John G. Harp 2009 Additional Incentive Opportunity
Mr. Harp was given an additional 2009 incentive opportunity. If MDU Construction Services Group, Inc.'s 2009 actual return on invested capital exceeds its 2009 weighted average cost of capital by 100 to 199 basis points, Mr. Harp will receive $100,000; if it exceeds 2009 weighted average cost of capital by 200 or more basis points, Mr. Harp will receive an additional $100,000, for a total of $200,000. If MDU Construction Services Group, Inc.'s 2009 actual return on invested capital is less than 100 basis points above its 2009 weighted average cost of capital, Mr. Harp will not be eligible to receive any amount under this incentive opportunity.
The Compensation Committee of the Board of Directors of MDU Resources Group, Inc. shall determine whether or not the goal has been met and recommend to the Board of Directors of MDU Resources Group, Inc. (the "Board") whether or not to approve payment of the additional incentive opportunity to Mr. Harp. If the Board approves payment of the additional incentive opportunity, payment will be made in cash between January 1, 2010 and March 10, 2010.
