Description of Management and Professional Incentive Plan
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Summary
This document describes the Management and Professional Incentive Plan, which offers annual incentive payments to the company's management and professional staff. Incentives are based on meeting specific performance goals, such as earnings per share, revenues, operating income, expense control, cash collections, and individual or business objectives. The plan ensures that incentive pay is closely linked to the company's financial results, with no payouts for substandard performance and maximum limits set for each component of the incentive.
EX-10.27 12 g67612ex10-27.txt DISCUSSION OF MANAGEMENT PROFESSIONAL PLAN 1 Exhibit 10.27 DESCRIPTION OF MANAGEMENT AND PROFESSIONAL INCENTIVE PLAN The Management and Professional Incentive Plan (the "Plan") provides annual incentives for management and professional staff of the Company based on achievement of various performance criteria, including: Company pro forma earnings per share, Company revenues, Company operating income, functional expense control, cash collections, and specific business or personal performance objectives. The Plan is designed to align pay more directly to financial results, with increases and decreases in incentive pay from year to year tied to financial targets achieved and missed, respectively. The annual incentives for each participant contain targets for each incentive component to ensure that no annual incentive compensation is earned for substandard performance. Additionally, maximum limits are in effect for each incentive component pertaining to each participant.
