Vista Key Employee Retention and Performance Compensation Program

Summary

This agreement outlines Vista's retention and performance compensation program for key employees, including Retail Managers, Support Managers, District Managers, Directors of Operations, Vice Presidents, and Senior Management. The program provides specified cash payments or percentages of base salary, payable at set intervals or upon certain events such as company sale, reorganization, or involuntary termination (not for cause). Senior Management may also receive performance-based compensation and severance. The agreement aims to retain key staff during significant corporate events, including bankruptcy proceedings.

EX-10.18 3 0003.txt KEY EMPLOYEE RETENTION PROGRAM Exhibit A - ----------------------------------------------------------------------------------------------------------------------- VISTA EMPLOYEE RETENTION / PERFORMANCE COMPENSATION PROGRAMS - ---------- ------------------------- -------------- --------------------------- --------------------------------------- Level Position Number of When Participants Payment Payable - ---------- ------------------------- -------------- --------------------------- --------------------------------------- 1 Retail Managers 800 $1,000 (may be increased 20% - July 1 up to a total of 10% of 20% - October 1 base salary subject to 60% - (A) management discretion) - ---------- ------------------------- -------------- --------------------------- --------------------------------------- 2 Support Managers 21 12% of base salary (may 20% - July 1 be increased up to a 20% - October 1 total of 15% of base 60% - (A) salary subject to management discretion) - ---------- ------------------------- -------------- --------------------------- --------------------------------------- 3 District Managers 73 25% of base salary 20% - July 1 20% - October 1 60% - (A) - ---------- ------------------------- -------------- --------------------------- --------------------------------------- 4 Directors of Operations 18 35% of base salary 20% - July 1 20% - October 1 60% - (A) - ---------- ------------------------- -------------- --------------------------- --------------------------------------- 5 Vice Presidents 13 50% of base salary 20% - August 1 20% - December 1 60% - confirmation of chapter 11 plan Severance - 12 months base (C) - ---------- ------------------------- -------------- --------------------------- --------------------------------------- 6 Senior Management 10 as set forth herein 15% of base - August 1 15% of base - December 1 Performance (B) Severance - 12 months base (C) ========== ========================= ============== =========================== ======================================= TOTAL 935 -- -- - ---------- ------------------------- -------------- --------------------------- ---------------------------------------

(A) 60%, and prior 40% to the extent not already paid, payable if participant actively employed: (i) on the closing of a transaction involving the Debtors' sale, reorganization or merger where control of the Debtors' business is directly or indirectly transferred to another employer (to the extent a transaction is closed that involves less that the entirety of the Debtors' business, only those participants employed by the Debtors' business subject to the transaction will qualify to be eligible for the payment); (ii) on the confirmation of a chapter 11 plan of reorganization or plan of liquidation for the Debtors; (iii) on the date the Debtors' cases are converted from chapter 11 to chapter 7 of the Bankruptcy Code; or (iv) the date of involuntary termination other than for cause. (B) Performance compensation payable upon criteria to be established by Debtor in consultation with the Creditors Committee. Maximum possible amount of performance compensation to be not less than 70% of base salary upon satisfaction of agreed criteria. Performance compensation will incorporate a regular incentive plan for Level 6 participants plus any appropriate incentives related to chapter 11. (C) 12 months base salary payable in lump sum upon involuntary termination other than for cause. OTHER - All regular incentive plans to remain in effect except for Level 6.