Rochester Medical Corporation Fiscal 2006 Executive Compensation Plan (adopted by the Compensation Committee of the Board of Directors on November 16, 2005)

EX-10.1 2 exhibit1.htm EX-10.1 EX-10.1

Exhibit 10.1

Rochester Medical Corporation
Fiscal 2006 Executive Compensation Plan

(adopted by the Compensation Committee of the Board of Directors on November 16, 2005)

MANAGEMENT INCENTIVE PLAN (BONUS)

Eligibility

•

All Executive Officers and Director level management personnel will be eligible to participate.

•

Recommended participation rates have been set by the President, and are based upon the respective position level and function of each executive. In all cases, participation rates are well within competitive incentive compensation ranges.

Fiscal 2006


	Bonus Participation									Weighted Performance Criteria
	(% of Base Salary)
				Target			Maximum
Participant	Minimum Payout			Payout			Payout			Sales			Operating Income
Conway, Jim	0%			35%			52.5%			50%			50%
Conway, Philip		0	%		25	%		37.5	%		*			*
Horner, Dara Lynn		0	%		25	%		37.5	%		75	%		25	%

Jonas, David		0	%		25	%		37.5	%		50	%		50	%

Sholtis, Martyn		0	%		25	%		37.5	%		85	%		15	%
Anglin, Robert		0	%		20	%		30	%		50	%		50	%

* Rather than sales and operating income, performance criteria based on measurable production goals related to productivity, scrap reduction and intermittent cost reduction.

•

The sales and operating income performance targets shall be set and approved annually by the Compensation Committee.

Bonus Calculation and Payout

The President will evaluate actual results from the respective areas of responsibility for each executive against financial targets. This evaluation will result in a recommended payout level as a percentage of the annual incentive target. Performance levels and recommended payouts will be reviewed and approved by the Compensation Committee prior to disbursement.