TALX Corporation FY05 Incentive Bonus Agreement for Salespeople

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This agreement outlines the FY05 incentive bonus plan for salespeople at TALX Corporation, effective from April 1, 2004, to March 31, 2005. It details how bonuses are calculated and paid based on sales, gross profit margin, revenue increases, and annual earnings per share goals. Bonus payments depend on meeting specific financial targets and are paid after successful completion of quarterly and year-end audits. The agreement clarifies that it is a summary for guidance only and does not constitute an employment contract. Eligibility and payment are governed by the official FY05 Incentive Bonus Plan Policy.

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EX-10.8 5 c91757exv10w8.txt FORM OF INCENTIVE BONUS AGREEMENT FOR SALESPEOPLE Exhibit 10.8 TALX CORPORATION - -------------------------------------------------------------------------------- FY05 INCENTIVE BONUS PLAN AGREEMENT - -------------------------------------------------------------------------------- EFFECTIVE 04/01/04 -- 03/31/05
- ------------------------------------------------------------------------------------------------------------------------------------ Position: Annual Base Salary as of 04/01/04: Hire Date: FY05 Incentive Bonus Plan Eligibility Date: - ------------------------------------------------------------------------------------------------------------------------------------ BONUS TYPE RATE CRITERIA BONUS PAID ---------- ---- -------- ---------- SALES BONUS FOR [ ] (1) $[ ] (See Sales Plan) Bonus will be paid at per the normal payroll quarter following the per successful completion territory of quarterly and year-end financial $[ ] audit. semi-annually per territory GROSS PROFIT MARGIN (1)(2) $[ ] Bonus paid if [ ] FY05 gross margin increase attained: Bonus will be paid at ($[ ] per Q1 gross profit margin from [ ]% to [ ]% (+[ ]%) the normal payroll quarter) Q2 gross profit margin from [ ]% to [ ]% (+[ ]%) following the Q3 gross profit margin from [ ]% to [ ]% (+[ ]%) successful completion Q4 gross profit margin from [ ]% to [ ]% (+[ ]%) of quarterly and year-end financial $[ ] (3) Annual gross profit margin from [ ]% to [ ]% (+[ ]%) audit. REVENUE BONUS (1) $[ ] ($[ ] Bonus paid if [ ] FY05 revenue increase goals attained: Bonus paid at the per Q1 increase of $[ ]; from $[ ] to $[ ] normal payroll quarter) Q2 increase of $[ ]; from $[ ] to $[ ] following the Q3 increase from Q2 revenue level to $[ ] successful completion Q4 increase from Q2 revenue level to $[ ] of quarterly and (Q2 revenue level will be determined after completion of year-end financial 09/30/04 quarterly audit) audit. $[ ] Annual [ ] revenue from prior year of $[ ]; to $[ ] for annually FY05 ($[ ] increase) ANNUAL GOAL $[ ] TALX annual EPS goal for the fiscal year 2005 which will be EPS bonus will be EARNINGS PER SHARE (EPS) (1) determined by the Board of Directors at their May 2004 paid at the normal (April `04-- March `05) meeting. The EPS goal includes bonus accrual at 100% of payroll following the expected payout but excludes effects of acquisitions, if any. successful completion of the year-end financial audit. ESTIMATED TOTAL BONUS POTENTIAL FOR FY05: $[ ]
(1) THE GRADUATED SCALE BELOW SHOULD BE USED IN CALCULATING THE PROFIT (FOR Q1 AND Q2), QUARTERLY REVENUE, AND EARNINGS PORTION OF THE BONUS AWARD FOR THE INCENTIVE BONUS PLAN.
% OF GOAL PAYOUT % OF GOAL PAYOUT % OF GOAL PAYOUT % OF GOAL PAYOUT % OF GOAL PAYOUT --------- ------ --------- ------ --------- ------ --------- ------ --------- ------ 125% 150% 116% 132% 106% 112% 97% 94% 88% 76% 124% 148% 114% 128% 105% 110% 96% 92% 87% 74% 123% 146% 113% 126% 104% 108% 95% 90% 86% 72% 122% 144% 112% 124% 103% 106% 94% 88% 85% 70% 121% 142% 111% 122% 102% 104% 93% 86% 84% 68% 120% 140% 110% 120% 101% 102% 92% 84% 83% 66% 119% 138% 109% 118% 100% 100% 91% 82% 82% 64% 118% 136% 108% 116% 99% 98% 90% 80% 81% 62% 117% 134% 107% 114% 98% 96% 89% 78% 80% 60%
2) THE GRADUATED SCALE BELOW SHOULD BE USED IN CALCULATING THE GROSS PROFIT PAYOUT OF THE BONUS AWARD FOR THE INCENTIVE PLAN (FOR Q4).
GROSS GROSS GROSS GROSS GROSS PROFIT PROFIT PROFIT PROFIT PROFIT MARGIN PAYOUT MARGIN PAYOUT MARGIN PAYOUT MARGIN PAYOUT MARGIN PAYOUT ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ [ ]% 150% [ ]% 132% [ ]% 112% [ ]% 94% [ ]% 76% [ ]% 148% [ ]% 128% [ ]% 110% [ ]% 92% [ ]% 74% [ ]% 146% [ ]% 126% [ ]% 108% [ ]% 90% [ ]% 72% [ ]% 144% [ ]% 124% [ ]% 106% [ ]% 88% [ ]% 70% [ ]% 142% [ ]% 122% [ ]% 104% [ ]% 86% [ ]% 68% [ ]% 140% [ ]% 120% [ ]% 102% [ ]% 84% [ ]% 66% [ ]% 138% [ ]% 118% [ ]% 100% [ ]% 82% [ ]% 64% [ ]% 136% [ ]% 116% [ ]% 98% [ ]% 80% [ ]% 62% [ ]% 134% [ ]% 114% [ ]% 96% [ ]% 78% [ ]% 60%
3) THE GRADUATED SCALE BELOW SHOULD BE USED IN CALCULATING THE ANNUAL GROSS PROFIT PAYOUT OF THE BONUS AWARD FOR THE INCENTIVE PLAN.
GROSS GROSS GROSS GROSS GROSS PROFIT PROFIT PROFIT PROFIT PROFIT MARGIN PAYOUT MARGIN PAYOUT MARGIN PAYOUT MARGIN PAYOUT MARGIN PAYOUT ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ [ ]% 150% [ ]% 132% [ ]% 112% [ ]% 94% [ ]% 76% [ ]% 148% [ ]% 128% [ ]% 110% [ ]% 92% [ ]% 74% [ ]% 146% [ ]% 126% [ ]% 108% [ ]% 90% [ ]% 72% [ ]% 144% [ ]% 124% [ ]% 106% [ ]% 88% [ ]% 70% [ ]% 142% [ ]% 122% [ ]% 104% [ ]% 86% [ ]% 68% [ ]% 140% [ ]% 120% [ ]% 102% [ ]% 84% [ ]% 66% [ ]% 138% [ ]% 118% [ ]% 100% [ ]% 82% [ ]% 64% [ ]% 136% [ ]% 116% [ ]% 98% [ ]% 80% [ ]% 62% [ ]% 134% [ ]% 114% [ ]% 96% [ ]% 78% [ ]% 60%
FY05 INCENTIVE BONUS PLAN AWARD PAYMENT TIMING, CALCULATION AND ELIGIBILITY WILL BE IN ACCORDANCE WITH TALX'S FY05 INCENTIVE BONUS PLAN POLICY. THIS DOCUMENT HAS BEEN PRODUCED BY TALX FOR THE GUIDANCE OF YOUR INCENTIVE BONUS PLAN. THIS DOCUMENT CONTAINS A GENERAL SUMMARY OF THE COMPONENTS OF THE FY05 INCENTIVE PLAN AND DOES NOT CONTAIN ALL FORMAL PROVISIONS. THE FY05 INCENTIVE BONUS PLAN POLICY AND NOT THIS DOCUMENT WILL CONTROL THE ACTUAL INCENTIVE PLAN. THIS DOCUMENT DOES NOT CONSTITUTE AN EXPRESSED OR IMPLIED CONTRACT OF EMPLOYMENT.
- ------------------------------------------------------------------------------------------------------------------------------------ SIGNATURE INDICATES THAT YOU HAVE RECEIVED AND REVIEWED YOUR FY05 INCENTIVE BONUS PLAN PROVIDED BY TALX. - ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------- ------------------------------------- ----------------------------------- [ ] Director Human Resources ------------------------------------- ------------------------------------- ----------------------------------- Date Date Date