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Annual Incentive Bonus
Plan
(Revised February, 2005)
Most salaried
(non-sales) employees participate in the Annual Incentive Bonus
Plan, an incentive pay program that is intended to reward employees
when the company is successful by aligning awards with performance.
Incentive awards are based on performance of the company overall
and the individual employee’s performance. The target
percentage for the majority of employees is 5% of paid salary.
Individual awards can range from 0% to 200% of target or up to 10%
of paid salary. This target percentage is a reduction from the 2004
plan target of 6% and a maximum of 12% of paid salary.
Non-sales
senior managers and a small number of key individual contributors
who occupy positions with a high relative impact on the
company’s business success participate in the Annual
Incentive Bonus Plan at various target levels. Determination of
eligibility will be made by senior leadership with the help of
competitive pay data supplied by Human Resources. The target awards
for this group ranges from 10% to 50% of paid salary. Individual
awards can range from 0% to 200% of target.
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