Pacer Stacktrain Supplemental Cash Bonus Plan Summary Plan Description
Pacer Stacktrain has established a Supplemental Cash Bonus Plan for all employees in its Stacktrain Division, including certain executive officers. Approved by the Compensation Committee in January 2004, this plan provides additional cash bonuses over a three-year period ending December 30, 2005. Bonus amounts are based on a fixed percentage of each participant's target bonus under the company's main bonus plan, with the percentage increasing each year. Payments depend on the division meeting specific income targets and are subject to the available bonus pool and individual performance.
Exhibit 10.2
PACER STACKTRAIN
SUPPLEMENTAL BONUS PLAN
SUMMARY PLAN DESCRIPTION
The Company has adopted the Pacer Stacktrain Supplemental Cash Bonus Plan (the “Supplemental Plan”) under which all employees of the Company’s Pacer Stacktrain Division, including certain executive officers of the Company (the “Stacktrain Executives”), participate. The Supplemental Plan, which was approved by the Compensation Committee (the “Committee”) of the Company’s Board of Directors in January 2004, supplements the Company’s annual cash bonus plan (the “Basic Plan”) that is approved annually by the Committee and under which the Stacktrain Executives also participate. The Supplemental Plan covers the three years ending December 30, 2005 and provided for a cash bonus award equal to a fixed percentage (which percentage increases over the three-year period) of the participant’s target bonus amount under the Basic Plan for the applicable year if the Stacktrain Division achieves specified operating income targets established by the Committee for the applicable year. Supplemental bonus payments are limited by the size of the accrued bonus pool for the Supplemental Plan and are subject, to a lesser extent, satisfactory individual performance.
