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WINLAND ELECTRONICS, INC. Description of 2004/2005 Incentive Bonus Plan

Employee Bonus Plan Agreement

WINLAND ELECTRONICS, INC.
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WINLAND ELECTRONICS, INC.

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Title: WINLAND ELECTRONICS, INC. Description of 2004/2005 Incentive Bonus Plan
Date: 3/21/2005
Industry: SCIINS     Sector: TECHNO

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exv10w15
 

EXHIBIT 10.15

WINLAND ELECTRONICS, INC.
Description of 2004/2005 Incentive Bonus Plan

Winland Electronics, Inc. Incentive Bonus Plan (the “Plan”) is designed to reward all employees, including executive staff, for performance contributing to pre-tax, pre-incentive plan, net income in excess of minimum limits defined annually at the beginning of the year by the Board of Directors. The aggregate amount allocated to the Plan pool is based on a percentage of each incremental amount of net income before tax and before the Plan. The formula for 2004 and 2005 as recommended by the Compensation Committee and as approved by the Board is as follows:

 

 

 

 

 

Net income before tax and

 

Incentive

before incentive plan

 

Plan %

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