systems and services tailored to the workflow needs of clinicians to improve efficiencies and reduce training times

EX-10.41 9 v06098exv10w41.txt EXHIBIT 10.41 EXHIBIT 10.41 May 28, 2004 (as amended March 14, 2005) Mr. Allan Criss, Vice President, Acute Care Quinton Cardiology, Inc. 3303 Monte Villa Parkway Bothell, WA 98021 Dear Allan, The purpose of this letter is to document our previous discussions on the FY 2004 sales bonus plan. The sales bonus is in addition to your participation in the 2004 Management Incentive Program (enclosed). Your 2004 sales bonus will be based on the recorded revenues of the Quinton products for the year-ending December 31, 2004. Your 2004 sales target has been established by the Company's CEO. You must achieve 90% of your sales revenue target to be eligible for a bonus. As the following table indicates, at 90% of your sales target you will be eligible for a bonus of 10% of your base salary. At between 91% and 100% of your sales target your bonus percentage will increase from 10% by an additional 2% for each additional 1% of achievement. If greater than 100% of your sales target is achieved, your bonus percentage will increase from 30% by 1% for each 1% by which your sales target is exceeded.
2004 % to 2004 Base + Base Salary Sales Target Sales Bonus % Base Sales Bonus $170,000 90% 17,000 10% 187,000 91% 20,400 12% 190,400 92% 23,800 14% 193,800 93% 27,200 16% 197,200 94% 30,600 18% 200,600 95% 34,000 20% 204,000 96% 37,400 22% 207,400 97% 40,800 24% 210,800 98% 44,200 26% 214,200 99% 47,600 28% 217,600 100% 51,000 30% 221,000 101+ +1% for each 1% over 100%
Your sales bonus, if any, will be paid no later than 30-days following the conclusion of the audit of the financial statements for the year ending December 31, 2004 and their filing with the SEC. The audited financial statements will be used to assure the reasonableness of the revenue amount used in computing your bonus. If the audit and filing with the SEC is not completed by March 31, 2005, the incentive, if any, will be paid during the following month in conjunction with normal payroll practices. Separation of employment, by resignation or termination, prior to March 31, 2005 will result in forfeiture of the bonus payment. Two copies of this letter are provided; please sign as acceptance and return one copy to Lynda Melugin, Director, Human Resources, and retain the other copy for your personal files. /s/ John R. Hinson /s/ Allan Criss - ------------------------ --------------- John Hinson Allan Criss President and CEO Vice President, Acute Care