2010 Annual Incentive Plan Criteria for Executive Officers
This agreement outlines the 2010 Annual Incentive Plan for executive officers, specifying how annual bonuses are determined based on company, business unit, and individual performance. Executives are assigned a target award percentage of their base salary, with final awards adjusted according to company earnings per share and growth metrics. The plan details payout multiples for different performance levels and includes provisions for further adjustment based on business unit or individual results.
EXHIBIT 10.8
Fiscal Year 2010 Annual Incentive 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 2010 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.
