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2009
Annual Incentive Compensation Plan Document
The LaCrosse
Footwear Inc . Incentive Compensation Plan is designed to
reward performance based on the achievement of desired annual
corporate results. The LaCrosse Incentive Compensation Plan seeks
to drive positive performance by targeting our greatest opportunity
to increase shareholder value, which we’ve identified as
profitable sales growth. The financial metrics for 2009 are sales
growth and profitability.
LaCrosse
funds the Incentive Compensation Plan solely from Company profits.
The Company must achieve at least 75% of planned/budgeted 2009
operating profit dollars in order for any Incentive Compensation
payout, regardless of the achievement of any other performance
metric. Our Board of Directors approves the budgeted net sales and
operating profit annually.
The guidelines
for the 2009 Incentive Compensation Plan are as follows:
Plan Year
and Eligibility Requirements
The incentive
compensation measurement plan year runs from January 1
st through December 31
st . All non-union LFI employees are eligible for
the Incentive Compensation Plan unless the individual is on a Sales
Commission Plan. No employee can be on more than one incentive
compensation plan. Employees hired during the Plan year are
eligible effective with their date of hire.
The employee
must be actively employed by the Company on the payment date in
order to receive any incentive compensation. Incentive
compensation is not earned until paid. Payment date is
anticipated to be by the end of the first quarter of the following
year, but is at the discretion of the Company.
An employee
must have a minimum individual performance rating of
“3” to be eligible to receive any incentive
compensation payout. An employee whose last overall performance
rating is “1” or a “2” or is on written
warning, will not be eligible to receive incentive
compensation until such time as the associated corrective action
plan has been successfully completed.
Incentive
Payout Calculation
The actual
incentive compensation payout, if any, is based on pro-r
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