TriPath Imaging, Inc. 2006 Employee Bonus Plan
Contract Categories:
Human Resources
›
Bonus & Incentive Agreements
Summary
TriPath Imaging, Inc. established a 2006 Bonus Plan for all employees not covered by a sales or commission plan, including executive officers. Bonuses are awarded based on the achievement of specific company performance goals, such as revenue and earnings per share targets for 2006. Bonus payouts can be made in cash, stock options, or both, and may range from 0% to 100% of a set bonus target, which is determined as a percentage of each participant's base salary and varies by job responsibility.
EX-10.30 2 g99805exv10w30.htm EX-10.30 Ex-10.30
Exhibit 10.30
TriPath Imaging, Inc. 2006 Bonus Plan
On January 26, 2006, the Compensation Committee of the Board of Directors of TriPath Imaging, Inc. (the “Company”) approved the terms of a bonus plan for fiscal year 2006 (the “2006 Bonus Plan”). All employees (other than employees who are covered by a sales compensation or commission-based plan) are eligible to participate in the 2006 Bonus Plan, including all of the Company’s executive officers.
Under the 2006 Bonus Plan, the payment of bonus compensation, if any, will be based on the achievement of objective corporate goals. The objective corporate performance goals for each participant will be based on the Company’s 2006 revenues, as well as quarterly and annual earnings per share. Bonuses will be payable in cash, options or a combination thereof.
Under the 2006 Bonus Plan, the potential payout of bonus compensation may range from 0% to a maximum of 100% of the bonus target. The bonus target for participants in the 2006 Bonus Plan will be based on a percentage of base salary dependent on the level of responsibility within the Company. The bonus target for each of the Company’s executive officers is set forth below.
| Bonus Target | ||||
| Executive Officer | (% of Base Salary) | |||
| Paul R. Sohmer, M.D. | 60 | % | ||
| President and Chief Executive Officer | ||||
| Stephen P. Hall | 40 | % | ||
| Senior Vice President, Chief Financial Officer | ||||
| Ray W. Swanson, Jr. | 50 | % | ||
| Senior Vice President of Commercial Operations | ||||
| Johnny D. Powers, Ph.D. | 50 | % | ||
| Senior Vice President and General Manager of TriPath Oncology | ||||
