RoomStore, Inc. Executive Incentive Plan (Fiscal 2008-2009)
RoomStore, Inc. established this Executive Incentive Plan for fiscal year 2008-2009 to reward key executives based on the company's consolidated EBITDA performance. The plan outlines specific bonus amounts for each executive, which increase as the company achieves higher EBITDA targets. Bonuses are paid on a prorated basis and are tied directly to the company's financial results, with additional increments for performance above the highest listed target. The plan covers several named executives and specifies how bonuses scale with company earnings.
Exhibit 10.8
RoomStore, Inc EXECUTIVE INCENTIVE PLAN (FISCAL 2008-2009)
PLAN
| CONSOLIDATED FYE 09’ EBITDA | 80% | 85% | 90% | 95% | greater than 11,200, 050 | |||||||||||||||
| 6,400,000 | 6,800,000 | 7,200,00 | 7,600,000 | 8,000,036 | 8,800,040 | 9,600,043 | 10,400,047 | 11,200,050 | ||||||||||||
| Curtis Kimbrell | 120,000 | 150,000 | 180,000 | 240,000 | 300,000 | 318,400 | 336,800 | 355,200 | 376,800 | > 140% of plan. Bonuses increase proportonial to each $800,000 as the prior increments. Example: at $11,600,000 Brubaker would earn an additonal $3,000, and at $12,000,000 would earn total bonus of $106,000 or $6,000 greater than last bonus listed. Nunnally would earn $52,500 or $1500 more and $57,000 respectively | ||||||||||
| Ned Crosby | 48,800 | 61,000 | 73,200 | 97,356 | 122,000 | 130,000 | 137,000 | 145,000 | 153,500 | |||||||||||
| Lewis Brubaker | 32,000 | 40,000 | 48,000 | 63,840 | 80,000 | 85,000 | 89,000 | 94,000 | 100,000 | |||||||||||
| Todd Edwards | 32,000 | 40,000 | 48,000 | 63,840 | 80,000 | 85,000 | 89,000 | 94,000 | 100,000 | |||||||||||
| Brian Bertonneau | 32,000 | 40,000 | 48,000 | 63,840 | 80,000 | 85,000 | 89,000 | 94,000 | 100,000 | |||||||||||
| John Hamilton | 32,000 | 40,000 | 48,000 | 63,840 | 80,000 | 85,000 | 89,000 | 94,000 | 100,000 | |||||||||||
| Kevin Whitehouse | 16,800 | 21,000 | 25,200 | 33,516 | 43,000 | 45,000 | 48,000 | 51,000 | 54,000 | |||||||||||
| Sandy Nunnally | 16,800 | 21,000 | 25,200 | 33,516 | 43,000 | 45,000 | 48,000 | 51,000 | 54,000 | |||||||||||
| Scott Harris | 16,800 | 21,000 | 25,200 | 33,516 | 43,000 | 45,000 | 48,000 | 51,000 | 54,000 | |||||||||||
| Jeremy Satterfield | 16,800 | 21,000 | 25,200 | 33,516 | 43,000 | 45,000 | 48,000 | 51,000 | 54,000 | |||||||||||
| Mike Smith | 16,800 | 21,000 | 25,200 | 33,516 | 43,000 | 45,000 | 48,000 | 51,000 | 54,000 | |||||||||||
| Robert Kimbrell | 16,800 | 21,000 | 25,200 | 33,516 | 43,000 | 45,000 | 48,000 | 51,000 | 54,000 |
EBITDA PLAN is the bottom line GAAP less approved exclusions if any. Bonus amounts are prorata.
0809BUDGET/NONSTORE/EXEINCPLAN
