PERFORMANCE GOALS FOR THE CHIEF EXECUTIVE OFFICERS 2009 FISCAL YEAR BONUS
Exhibit 10.1
PERFORMANCE GOALS FOR THE CHIEF EXECUTIVE OFFICER’S
2009 FISCAL YEAR BONUS
| Performance Criteria | Goals and Minimum and Maximum Thresholds | Allocation of Target Amount ($) (1) | |||
| San Jose Water Company Return on Equity for the 2009 Fiscal Year | Target Goal: 10.13%
Minimum Threshold: At least 9.13%
Maximum Goal: At least 11.13% | $ | 79,170 | ||
| Compliance (Environmental) | Maximum Goal: Zero water quality or other environmental violations (Target Goal and Minimum Threshold are not applicable). | $ | 19,790 | ||
| San Jose Water Company Operational Goals (2) | Target Goal: Achieve 80% of identified key water industry objectives measured primarily in terms of service, reliability and efficiency.
Minimum Threshold: Achieve 70% of identified water industry objectives.
Maximum Goal: Achieve 90% of identified key water industry objectives. | $ | 19,790 | ||
| (1) | The 2009 target bonus amount is equal to $118,750 (or 25 percent of Mr. Roth’s base salary) which is the level of target bonus provided pursuant to his employment agreement. Mr. Roth’s 2009 base salary is $475,000. The actual bonus may range from 0 percent to 150 percent of the target amount based on the Committee determination of the achievement of the performance goals: |
| • | If the goal is attained, 100 percent of the allocated amount will be paid. |
| • | If only the minimum threshold is attained, then 50 percent of the allocated amount will be paid. |
| • | If the maximum goal is attained, then 150 percent of the allocated amount will be paid. |
| • | Should the actual level of attainment of any such performance goal be between two of the designated levels, then the bonus potential will be interpolated on a straight-line basis. |
| (2) | The key water industry objectives will be established by March 31, 2009. |
