New Product Bonus Incentive Program for Executive Officers (2008)
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Bonus & Incentive Agreements
Summary
This agreement outlines a bonus incentive program adopted by the Company for its executive officers. The program offers eligible executives a cash bonus of up to 5% of their base pay if they achieve three specific new product goals during fiscal year 2008. For each goal met before the end of the fiscal year, participants receive one-third of the total bonus. The program is designed to encourage executives to focus on developing and launching new products.
EX-10.29 2 f41155exv10w29.htm EXHIBIT 10.29 exv10w29
Exhibit 10.29
New Product Bonus Incentive Program
The Company has adopted a New Product Bonus Incentive Program (the “New Product Program”). The purpose of the New Product Program is to provide executive officers with an incentive to focus on new products. Under the New Product Program, executive officers of the Company are eligible to receive a cash bonus of up to five (5) percent of their base pay upon the successful achievement of three specific new product goals in fiscal 2008. Under the New Product Program, participants are eligible to receive 1/3rd of their total bonus for each specific new product goal achieved prior to the end of the 2008 fiscal year.
