PVC Container Corporation Cash Bonus Incentive Plan Summary (Fiscal Year 2005)

Summary

PVC Container Corporation has established a cash bonus incentive plan for the fiscal year ending June 30, 2005. Key management personnel, including the CEO, CFO, and various vice presidents, are eligible to receive bonus payments based on the company's financial performance, specifically its incremental equity value as measured by earnings before interest, taxes, depreciation, and amortization. Bonus payouts for each participant will range from 0.34% to 2.5% of the company's incremental equity value. There is no formal written plan document for this bonus program.

EX-10.3 4 y05757exv10w3.txt SUMMARY OF PVC CONTAINER CORP. BONUS PLAN EXHIBIT 10.3 SUMMARY OF PVC CONTAINER CORPORATION CASH BONUS INCENTIVE PLAN On December 10, 2004, the board of directors of PVC Container Corporation (the "Company") approved a cash bonus incentive plan for the fiscal year ending June 30, 2005 (the "Annual Bonus Plan"). The Company's key management personnel will be entitled to earn bonus compensation under the Annual Bonus Plan based upon the Company's financial performance in fiscal 2005. The following management personnel are eligible to participate in the Annual Bonus Plan: the chief executive officer, the chief financial officer, vice president - operations, vice president - quality, vice president - sales and vice president - - marketing. The specific measurement of the Company's financial performance is the incremental equity value of the Company, which is based on the Company's earnings before interest, taxes, depreciation and amortization. There is no formally adopted plan document for the Annual Bonus Plan. The range of payouts per participant for the fiscal year 2005 under the Annual Bonus Plan is 0.34% to 2.5% of the incremental equity value of the Company.