Summary of Compensation and Performance Goals for Incentive Awards – Julia A. Harper, Brian Bronson, and Keith Lambert

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the annual salaries and incentive bonus structure for Julia A. Harper (Vice President of Corporate Operations), Brian Bronson (Chief Financial Officer), and Keith Lambert (Vice President of Manufacturing Operations). It specifies their base salaries and target annual bonus amounts. Bonus payouts are determined semi-annually based on the achievement of operating income and specific performance criteria, including individual objectives, design wins, revenue, and gross margin targets, each with assigned payout weights. The actual bonus can range from 0% to 200% of the target based on results.

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EX-10.2 3 v24513exv10w2.txt EXHIBIT 10.2 . . . EXHIBIT 10.2 SUMMARY OF COMPENSATION AND PERFORMANCE GOALS AND BUSINESS CRITERIA FOR PAYMENT OF INCENTIVE AWARDS Compensation
ANNUAL SALARY ------------- Julia A. Harper, Vice President of Corporate Operations $240,000 Brian Bronson, Chief Financial Officer $261,000
Incentive Awards Bonus targets are set between the 50th and 75th percentile of market data as an average. The officers were assigned the following target annual bonus amounts:
TARGET ANNUAL BONUS AMOUNT ------------ Julia A. Harper, Vice President of Corporate Operations $160,000 Brian Bronson, Chief Financial Officer $121,000 Keith Lambert, Vice President of Manufacturing Operations $100,000
Actual bonus payouts are calculated and paid semi-annually and are based on achievement of planned operating income, as well as the following parameters:
PARAMETER PAYOUT WEIGHT - ------------------- ---------------------------------- ----------- Individual objectives Payout from 0 - 200% based on results 50% Design win target Payout from 0 - 200% based on results 20% Revenue target Payout from 0 - 200% based on results 15% Gross margin target Payout from 0 - 200% based on results 15%