Fiscal Year 2011 Annual Incentive Awards Plan Criteria for Named Executive Officers
This agreement outlines the criteria for the 2011 Annual Incentive Awards Plan for named executive officers of the company. It specifies that awards are based on company-wide, business unit, and individual performance, with target award percentages set according to executive level. Final awards depend on base salary, target percentage, performance multipliers, and business or individual factors. Performance is measured primarily by earnings per share and growth in new business areas. The plan details how different levels of achievement affect the payout, ranging from 25% to 200% of the target award.
EXHIBIT 10.1
Fiscal Year 2011 Annual Incentive Awards Plan Criteria
The Annual Incentive Plan rewards performance based upon consolidated, business unit and individual results. The named executive officers are assigned the following Target Award Percentage of their base salary for fiscal year 2011 Annual Incentive Awards:
| Level | Target Award Percentage | |
| CEO | 110% | |
| 13 | 95% | |
| 12 | 75% | |
| 11 | 65% |
Awards are based upon the consolidated results of the company and may be adjusted based upon overall business unit and/or individual performance as illustrated in the table below:
| Base Salary | x | Target Award Percentage | x | Payout Multiple of Target Award Percentage | x | Business Unit /Individual Factor | = | Final Award |
The payout multiple of a participant’s Target Award Percentage, depending upon whether threshold, target, distinguished or super-distinguished performance is achieved is as follows:
Payout Multiple of Target Award Percentage
| Threshold | 25 | % | ||
| Target | 100 | % | ||
| Distinguished | 150 | % | ||
| Super-Distinguished | 200 | % |
The consolidated results of the company shall be measured based upon earning per share (EPS) and a growth business adjustment for new businesses and growth opportunities.
