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Exhibit
10.220
Dollar Thrifty
Automotive Group, Inc
2009 Executive
Incentive Compensation Plan
Purpose
This 2009
Executive Incentive Compensation Plan (the “ 2009 Plan
”) is designed to motivate and reward executives for goal and
objective achievement and for contributing to the overall
performance of Dollar Thrifty Automotive Group, Inc. and its
subsidiaries (“ DTG ” or, collectively, the
“ Company ”) for the year 2009.
Plan
Participants
Participation
in the 2009 Plan is limited to executive personnel in pay grades 40
and above (“ Participants ”).
Target
Award
The Target
Award is a percentage of Participant’s base pay as set forth
on a schedule (the “ 2009 Plan Schedule ”)
developed by the Human Resources and Compensation Committee of the
Board of Directors of DTG (the “ HRCC
”).
Plan
Provisions
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1.
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An incentive compensation award (the
“Award”) will be based on DTG’s earnings before
interest, taxes, depreciation and amortization
(“EBITDA”) plus or minus any adjustment made and
approved by the HRCC in its sole discretion and will be subject to
such additional terms and conditions as are set forth on the 2009
Plan Schedule.
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2.
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Awards, if any, will be paid subsequent to the
confirmation of the 2009 financial results of DTG. The HRCC
reserves the right to determine the appropriateness of Awards under
the 2009 Plan after review of business conditions and the
Company’s continued viability after the close of the 2009
fiscal period. Awards may not be approved to be paid if it is
determined by the HRCC that the business is not stable and/or not
properly positioned for success in 2010.
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3.
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Participants must be employed by the Company on
the Award payment date to be eligible for an Award.
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4.
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Employees who are hired or promoted into an
eligible pay grade during 2009 may be considered for participation
in the 2009 Plan on a prorated basis based on the number of days
worked during the year 2009.
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5.
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To the extent Participant is eligible for both
the 2009 Plan and the 2008/2009 Executive Retention Bonus Plan
established on October 15, 2008 (the “ Retention Plan
”), the Participant will only be entitled to receive the
greater of (a) his or her Retention Award under the Retention Plan;
or (b) his or her Award under the 2009 Plan.
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6.
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Any special circumstances or exceptions not
addressed in this 2009 Plan will be resolved by the President and
Chief Executive Officer of DTG, in his sole discretion but subject
to approval of the HRCC. The HRCC further reserves the right to
determine eligibility under the 2009 Plan and to interpret and
construe the terms
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