PSS World Medical, Inc. Executive Officer Annual Incentive Bonus Program Description
PSS World Medical, Inc. has established an annual incentive bonus program for its executive officers for fiscal year 2007, as approved by the Compensation Committee. Under this program, executive officers can earn cash bonuses based on the company's earnings per share results, and in some cases, operating segment profit and individual achievement of critical tasks. Bonus targets are set as a percentage of base salary, with the CEO eligible for up to 80% and other executives between 35% and 55%. Actual bonuses may range from 0% to 200% of the target, depending on performance.
Exhibit 10.10
PSS World Medical, Inc.
Description of Executive Officer Annual Incentive Bonus Program
The Compensation Committee of the Board of Directors approved an annual incentive bonus program (the “Program”) for its executive officers for fiscal year 2007. Under the Program, executive officers may earn cash bonus awards based on the Company’s achievement of earnings per share goals and, in some cases, the achievement of operating segment profit and the participant’s achievement of designated critical tasks. The target bonus amounts are expressed as a percentage of base salary (80% for the chief executive officer and a range of 35%-55% for the other executive officers), and actual bonus amounts may range from 0% to 200% of the target amounts, as determined by the Compensation Committee based on actual performance relative to specified Company goals.
