Annual Incentive Plan Criteria
EX-10.106 2 c22314exv10w106.htm ANNUAL INCENTIVE PLAN CRITERIA exv10w106
EXHIBIT 10.106
Fiscal Year 2008 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 2008 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/or the individual’s business unit results. The weighting factors for corporate and business unit performance for named executive officers is as follows:
| Level | Corporate / Business Unit Weight | |||
CEO and Level 13 | 100% / 0 | % | ||
11-12 | 80% / 20 | % | ||
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 a pro forma return on equity (“ROE”) calculation. ROE shall be calculated as consolidated net income divided by consolidated pro forma equity. |
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