403 EMPLOYEE BONUS PLANEmployee Bonus Plan Agreement |
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Exhibit 10.21
FY2006 EXECUTIVE BONUS PLAN
Revised Date: 06/01/2005
Eligibility:
Worldwide Executives who are actively employed at the end of both the Company’s fiscal year (May 31st) and at time of payout (on or before July 31st) are eligible to participate in the Executive Bonus Plan.
Executives who have not completed a full quarter of continuous employment are not eligible. Executives who receive part of their compensation in the form of commissions and/or other incentive/variable based bonus plans are not eligible.
Bonus Calculation:
Upon Board approval of the Company’s 2006 financial plan (exclusive of acquisitions and/or mergers – unless approved by the Compensation Committee), the annual bonus shall be paid based upon the quarterly attainment of three performance metrics:
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Pro forma operating margin |
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