Exhibit 10.1
CHASE CORPORATION
ANNUAL INCENTIVE
PLAN
FISCAL
2009
The Company, in addition to salary and
benefits provides further cash compensation to key employees based
on achieving preset annual goals.
The plan is maintained and paid at the
sole discretion of the Board of Directors and may be modified or
suspended at any time by the board.
Upon approval by the Board of Directors,
the Corporate H.R. Manager will administer the plan.
An annual bonus pool is created as a
percentage of actual operating income achieved during the fiscal
year. The amount is determined by the success in reaching the
year’s targeted results. The schedule
follows:
|
|
|
Percentage of Target Achieved
|
Bonus Pool as a Percentage of Actual
Operating Income
|
|
120%
|
17%
|
|
110
|
16
|
|
100
|
15
|
|
90
|
14
|
|
80
|
13
|
|
70
|
12
|
|
60
|
11
|
|
50
|
10
|
As consideration for achieving
qualitative results by the Company, the Board of Directors, at its
sole discretion, may increase or decrease dollars in the
pool.
It is the intent of the Board of
Directors to exclude the effect of unusual events and expenses from
the calculation. The Compensation and Management Development
Committee is given the authority by the Board to use its discretion
in determining relevant exclusions.
Targets, awards, opportunities and
associated performance award methodology and eligibility
requirements will be established by the Compensation and Management
Development Committee for the Chief Executive Officer, Chief
Operating Officer, Chief Financial Officer and Vice President
Engineering and approved by the Board of Directors. For
senior management, the CEO will make recommendations to be
app
