Exhibit 10.36
SUMMARY OF ANNUAL CASH
PERFORMANCE BONUS AWARDS,
LONG-TERM PERFORMANCE AWARDS AND
STOCK OPTIONS
GRANTED FOR FISCAL 2010 FOR NAMED
EXECUTIVE OFFICERS
Cash Performance Bonus Awards
Granted In Fiscal 2010
The following table sets forth the
annual performance bonus awards granted to the Company’s
current named executive officers (“NEOs”) under the
Worthington Industries, Inc. Annual Incentive Plan in Fiscal
2010.
Cash Performance Bonus Awards
Granted in Fiscal 2010
|
|
|
|
|
|
|
|
|
|
Cash Performance Bonus Awards for Twelve-Month
Performance Period Ending May 31, 2010 (1)
|
|
|
|
Threshold ($)
|
|
Target ($)
|
|
Maximum ($)
|
|
John P. McConnell
|
|
400,000
|
|
800,000
|
|
1,600,000
|
|
George P. Stoe
|
|
307,500
|
|
615,000
|
|
1,230,000
|
|
B. Andrew Rose
|
|
125,000
|
|
250,000
|
|
500,000
|
|
Mark A. Russell
|
|
237,500
|
|
475,000
|
|
950,000
|
|
Harry A. Goussetis
|
|
156,500
|
|
313,000
|
|
626,000
|
|
(1)
|
Payouts of these annual
performance bonus awards are generally tied to achieving specified
levels (threshold, target and maximum) of corporate economic valued
added and earnings per share (in each case excluding restructuring
charges and non-recurring items) for the twelve-month performance
period with each performance measure carrying a 50% weighting. For
business unit executives, including Mr. Russell and
Mr. Goussetis, the corporate earnings per share measure
carries a 20% weighting, business unit operating income carries a
30% weighting, and business unit economic value added carries a 50%
weighting. If the performance level falls between threshold and
target or between target and maximum, the award is prorated. If
threshold levels are not reached for any performance measure, no
annual performance bonus will be paid. Annual performance bonus
award payouts will be made within a reasonable time following the
end of the performance period. In the event of a change in control
of the Company, all annual performance bonus awards would be
considered to be earned at target, pay
|
|
