WINLAND ELECTRONICS, INC. Description of 2004/2005 Incentive Bonus PlanEmployee Bonus Plan Agreement |
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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:
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Net income before tax and |
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Incentive |
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before incentive plan |
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Plan % |
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