Parker-Hannifin Corporation Volume Incentive Plan (Amended as of August 15, 2007)

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines Parker-Hannifin Corporation's Volume Incentive Plan for certain executives, including Group Presidents (excluding Senior Vice Presidents and Operating Officers), Trading Subsidiary Presidents, and Group Operating Vice Presidents. The plan provides bonuses based on increases in customer sales compared to the previous fiscal year. Participants earn 1% of base pay for each 1% sales increase above 10% (up to 15%), and 2% of base pay for each 1% increase above 15%, with a maximum bonus capped at 15% of base pay.

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EX-10.(A) 2 dex10a.htm PARKER-HANNIFIN CORPORATION VOLUME INCENTIVE PLAN, AS AMENDED AND RESTATED Parker-Hannifin Corporation Volume Incentive Plan, as amended and restated

Exhibit 10(a)

PARKER-HANNIFIN CORPORATION

VOLUME INCENTIVE PLAN,

Amended as of August 15, 2007

 

Participants:    Group Presidents (excluding any Senior Vice President and Operating Officer), Trading Subsidiary Presidents and Group Operating Vice Presidents
Terms:    Participants will receive a bonus of 1 percent of base pay for each 1 percent increase in excess of a 10 percent increase, up to a 15 percent increase, in current fiscal year customer sales over previous fiscal year customer sales for their respective operations. Participants will receive a bonus of 2 percent of base pay for each 1 percent increase in customer sales above 15 percent. Participants are limited to an overall maximum bonus under the Plan of 15 percent of base pay.