Summary of Annual Cash Bonus Plan for President and COO of Park-Ohio Holdings Corp.
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Summary
Park-Ohio Holdings Corp. has an annual cash bonus plan for its President and Chief Operating Officer. Each year, the Compensation Committee of the Board of Directors sets the performance criteria for the bonus. The President and COO may receive an annual cash award of up to a certain percentage of their base salary, depending on whether these criteria are met.
EX-10.2 3 l22207aexv10w2.htm EX-10.2 EX-10.2
Exhibit 10.2
Summary of Annual Cash Bonus Plan for President and Chief Operating Officer
Park-Ohio Holdings Corp. (the “Company”) has an annual cash bonus plan for its current President and Chief Operating Officer. The Compensation Committee of the Board of Directors of the Company annually determines the performance criteria upon which awards under the plan will be based. Pursuant to the plan, the President and Chief Operating Officer will be eligible to receive an annual award of up to a specified percentage of his annual base salary.
