Summary Description of 2004 Supplemental Incentive Compensation Plan for Talk America Holdings, Inc.
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Summary
Talk America Holdings, Inc. has adopted a 2004 Supplemental Incentive Compensation Plan for certain employees, as designated by its Compensation Committee. The plan organizes participants into cross-functional teams responsible for improving key operational areas such as customer satisfaction and sales. Incentive payments are tied to meeting specific performance goals, with a maximum of $4,000 per employee per team every six months, and a total cap of $8,000 per six-month period. Executive officers, except the CEO and President, are eligible to participate.
EX-10.29 4 incentivecompplan.htm SUMMARY DESCRIPTION OF 2004 SUPPLEMENTAL INCENTIVE COMPENSATION PLAN Summary Description of 2004 Supplemental Incentive Compensation Plan
Exhibit 10.29
SUMMARY OF 2004 SUPPLEMENTAL INCENTIVE COMPENSATION PLAN
As adopted by the Compensation Committee of the Board of Directors of Talk America Holdings, Inc. (the "Company"), the supplemental incentive compensation plan applies to the employees of the Company and its subsidiaries who are designated as participants by the Compensation Committee. Under this plan, the participating employees are organized in groups on a cross-functional basis and charged with the responsibility for improving and monitoring the following operational areas: customer satisfaction, general and administrative expenses/capital budget, sales and marketing, credit quality, gross margin and facilities-based provisioning. Incentive compensation under this plan is based upon the achievement of certain operational performance measures established by the Compensation Committee when it adopted the plan. Maximum incentive compensation per employee for each cross-function team is $4,000 per six-month period, with an aggregate six-month cap of $8,000. The Company's executive officers, other than its Chief Executive Officer and President, are entitled to participate in this incentive plan.
