Summary of Executive Bonus Performance Goals and Criteria for Payment of Awards

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This document outlines the performance goals and business criteria for determining annual bonus payments to key executives, including the President, CFO, and Vice Presidents. Bonus targets are set based on market data and are paid semi-annually, depending on the achievement of specific objectives such as individual performance, design wins, revenue, and gross margin. Each parameter has a set weight, and payouts can range from 0% to 200% of the target amount based on results.

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EX-10.1 3 v22464exv10w1.txt EXHIBIT 10.1 EXHIBIT 10.1 SUMMARY OF PERFORMANCE GOALS AND BUSINESS CRITERIA FOR PAYMENT OF AWARDS Executive bonus targets for the executive group are set between the 50th and 75th percentile of market data as an average. The named executives were assigned the following target annual bonus amounts:
TARGET ANNUAL BONUS AMOUNT --------------- Scott C. Grout, President and Chief Executive Officer $328,300 Julia A. Harper, Chief Financial Officer and Secretary $140,500 Christian A. Lepiane, Vice President of Worldwide Sales $140,500 Keith Lambert, Vice President of Operations and Manufacturing $125,000
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%