Parker-Hannifin Corporation Sales Company Incentive Plan for Management

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Parker-Hannifin Corporation has established an incentive plan for certain group presidents and management personnel. Under this plan, participants can earn bonus shares based on the average net assets of their local sales companies and a cash bonus tied to sales growth over the previous year, excluding acquisitions. The cash bonus is calculated as 1% of base salary for each 1% increase in sales, with a maximum total annual bonus capped at 30% of base salary.

Read More Arrow
EX-10.(X) 6 dex10x.htm SALES COMPANY INCENTIVE PLAN Sales Company Incentive Plan

Exhibit 10(x)

PARKER-HANNIFIN CORPORATION

SALES COMPANY INCENTIVE PLAN

Participants:        Certain Group Presidents and certain other management personnel

 

Terms: Participants will receive two Return on Net Asset (“RONA”) bonus shares based on the average net assets of the local sales companies and a cash bonus equal to 1 percent (or fraction thereof) of base salary for each 1 percent (or fraction thereof) of sales by which the local sales companies exceed their sales for the prior year. Acquisitions are excluded from this calculation. Participants are limited to an overall maximum annual bonus equal to 30 percent of base salary.