Additional Bonus Program Agreement for Executive Officers Daren G. Hogge and Craig D. Huff
This agreement outlines a special bonus program approved in January 2004 for executive officers Daren G. Hogge and Craig D. Huff. Under this program, they were eligible to receive additional cash bonuses based on the company's growth in sales revenue, operating income, and reduction in certain expenses for 2004. The bonuses, paid in February 2005, were $301,257 for Mr. Hogge and $235,888 for Mr. Huff, in addition to any bonuses from the company's standard incentive plan.
Exhibit 10.2
Compensatory Arrangements with Certain Executive Officers
In January of 2004, a bonus program was approved for Daren G. Hogge and Craig D. Huff wherein they could earn bonuses in addition to bonuses payable pursuant to the Company’s Incentive Compensation Plan (the “Additional Bonus Program”). Such bonuses were based upon the growth in sales revenue and operating income in Synergy Worldwide and the reduction in selling, general and administrative expenses as compared to sales revenue on a consolidated basis. Set forth below are the cash bonuses paid to such officers on February 22, 2005 pursuant to the Additional Bonus Program for performance in 2004:
| Name and Title |
| Cash Bonus for Fiscal 2004 |
|
| |
| Daren G. Hogge Executive Vice President |
| $ | 301,257 |
| |
| Craig D. Huff Executive Vice President, Chief Financial Officer, Vice President, Finance |
| $ | 235,888 |
| |
