2013 Bonus Plan
Exhibit 10.19
2013 Bonus Plan
· Bonus Pool is funded by achievement of corporate plan, with pro-rata payment for achievement between 50% -100% and between 100% - 150%.
· Individual performance will be measured by CEO evaluation of executives demonstration of Leadership, Leverage and Results and specific MBOs established by the CEO, and be included in CEOs recommendation to the Compensation Committee.
· Maximum plan funding is 150% of target but individual bonus awards can exceed 150% of target with CEO recommendation and with Compensation Committee approval.
· The Compensation Committee will establish for each executive a target bonus expressed as a percentage of his annual salary.
· Revenue and EBITDA targets will be based on the performance tiers described below. The Compensation Committee retains the discretion to reasonably adjust the Revenue and EBITDA targets to exclude the impact of any dispositions and acquisitions or other corporate events during the plan year, as it deems appropriate.
Bonus Pool Funding
|
|
|
| Performance Tiers |
| ||||
Corporate Plan |
| Plan |
| Threshold |
| Target |
| Stretch |
|
Revenue |
| 60 | % | 91% of plan |
| 100% of plan |
| 109% of plan |
|
EBITDA |
| 20 | % | 83% of plan |
| 100% of plan |
| 117% of plan |
|
Discretionary evaluation and MBOs from CEO |
| 20 | % | TBD |
| TBD |
| TBD |
|