Avatech Solutions, Inc. Management Incentive Compensation Plan Targets for FY 2007
Contract Categories:
Human Resources
- Bonus & Incentive Agreements
EX-10.2 3 dex102.htm EXHIBIT 10.2 Exhibit 10.2
Exhibit 10.2
Avatech Solutions, Inc.
Management Incentive Compensation Plan Targets for FY 2007
| Target IC at Plan | ||||||
| % of Salary | Amount | |||||
| Donald R (“Scotty”) Walsh | 75 | % | $ | 225,000 | ||
| Scott Harris | 50 | % | $ | 130,000 | ||
| Larry Rychlak | 33 | % | $ | 70,950 | ||
| $ | 425,950 | |||||
A: 75% of Incentive Compensation (IC) based on EPS*
B: 25% of IC based on achieving Service revenue objective
| 50% | of A earned at EPS | $ | 0.18 | ||
| 60% | of A earned at EPS | $ | 0.19 | ||
| 70% | of A earned at EPS | $ | 0.20 | ||
| 80% | of A earned at EPS | $ | 0.21 | ||
| 90% | of A earned at EPS | $ | 0.22 | ||
| 100% | of A earned at EPS | $ | 0.23 | ||
| * | Numbers to be adjusted if acquisition completed using pooling accounting | ||||
| 50% | of B earned at $9,000,000 in Service Revenue | ||||
| 100% | of B earned at $10,300,000 in Service Revenue | ||||
| Pro rata percent for amount between $9,000,000 and $10,300,000 | |||||
Incentive compensation will be paid upon completion of FY 2007 audit
The Incentive Compensation Plan will also provide for an over achievement increase in the IC pool of $20,000 for each $.01 EPS above $.23.
