Parker-Hannifin Corporation Volume Incentive Plan for Group Presidents and Management (2009)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

Parker-Hannifin Corporation has established a Volume Incentive Plan for certain management personnel, including Group Presidents (excluding Executive and Senior Vice Presidents). Under this plan, participants earn a bonus based on the percentage by which their group or division's sales exceed the previous year's sales. Bonuses range from 1% to 2% of base salary for each percentage point of sales growth above 7.5%, with a maximum annual bonus capped at 15% of base salary.

Read More Arrow
EX-10.1 2 dex101.htm PARKER-HANNIFIN CORPORATION VOLUME INCENTIVE PLAN Parker-Hannifin Corporation Volume Incentive Plan

Exhibit 10.1

PARKER-HANNIFIN CORPORATION

VOLUME INCENTIVE PLAN,

Adopted as of August 12, 2009

 

Participants:

    Group Presidents (excluding any Executive Vice President or Senior Vice President) and certain other management personnel

 

Terms:    Participants will receive a bonus equal to 1 percent (or fraction thereof) of base salary for each 1 percent (or fraction thereof) of sales by which his or her operating group or division exceeds its sales for the prior year by between 7.5 percent and 15 percent. Participants will receive a bonus equal to 2 percent (or fraction thereof) of base salary for each 1 percent (or fraction thereof) of sales by which his or her operating group or division exceeds its sales for the prior year by more than 15 percent. Participants are limited to an overall maximum annual bonus equal to 15 percent of base salary.