Moog Inc. Management Profit Sharing Program Description
Moog Inc. has a Management Profit Sharing Program that awards annual cash bonuses to management, including executive officers, based on the company's year-over-year improvement in diluted earnings per share (EPS). The bonus is calculated by multiplying a participant's base salary by the percentage increase in EPS and a multiplier (up to 3), which varies by responsibility level. Executive officers typically receive a higher multiplier. All awards are discretionary, and payments to executive officers require approval from the Executive Compensation Committee.
Exhibit 10.1
MANAGEMENT PROFIT SHARING PROGRAM
It is Moog’s practice to award annual cash bonuses to management, including executive officers, based on Moog’s year over year percentage improvement in diluted earnings per share (“EPS”). The bonus amount payable to any participant is determined by multiplying the participant’s base salary by the product of the percentage improvement in Moog’s EPS and a multiplier of up to 3 based on a participant’s responsibilities, with executive officers generally having the higher multiplier. Notwithstanding an improvement in EPS, the determination to make an award under the program and, if made, its allocation, are discretionary. Further, any payments to executive officers under the program are subject to approval by the Executive Compensation Committee of the Board of Directors.
