Summary of 2005 Supplemental Incentive Compensation Plan for Talk America Holdings, Inc.
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Summary
Talk America Holdings, Inc. adopted a supplemental incentive compensation plan for select employees and certain executive officers (excluding the CEO and President). Participants are grouped into cross-functional teams responsible for improving key operational areas such as customer satisfaction and market share. Incentive payments are tied to achieving specific performance goals set by the Compensation Committee, with a maximum of $4,000 per employee per team for each six-month period and a total cap of $8,000 per six months.
EX-10.2 3 exhibit10_2.htm SUMMARY OF SUPPLEMENTAL PLAN Summary of Supplemental Plan
EXHIBIT 10.2
SUMMARY OF 2005 SUPPLEMENTAL INCENTIVE COMPENSATION PLAN
On April 25, 2005, the Compensation Committee of the Board of Directors of Talk America Holdings, Inc. (the “Company”) adopted a supplemental incentive compensation plan for a limited number of 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, credit quality, gross margin, internet services, network migration and market share. 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.
