|
EXECUTIVE INCENTIVE COMPENSATION PLAN
SHARPS COMPLIANCE CORP.
The
Compensation Committee of the Board of Directors
(“Committee”) of Sharps Compliance Corp. (the
“Company”) has adopted its Executive Incentive
Compensation Plan effective for the fiscal years ended June
30, 2008 and 2009. The Executive Incentive Compensation
Plan (the “Plan”) is designed to allow eligible
executive full-time employees to share in achievements based
on attainment of pre-established Company financial performance
as well as achievement of individual goals. The Plan is
designed to motivate and reward eligible participants whose
performance is considered by the Committee to be critical and
integral to the overall success of the Company.
Eligibility and Plan Year
Plan
eligibility is determined by the Committee. For the fiscal
years ending June 30, 2008 and 2009 participation in the Plan
is limited to the Company’s Chief Executive Officer and
Chief Financial Officer. The Committee may, at its sole
discretion, add other Company executives as participants to
the Plan.
Elements of the Plan
Each
eligible participant has a target bonus, calculated as a
specified percentage of that executive’s then current
annual salary. For the fiscal years ending June 30, 2008
and 2009 the specified percentage of participant’s
annual salary is 40% for both the Chief Executive Officer and
Chief Financial Officer. The bonus amount will be computed
based upon achievement of goals in three categories: (1)
positioning the Company for future growth, (2) the
achievement of fiscal year budgeted earnings and (3)
achievement of fiscal year budgeted revenues.
Individual Performance Element (determines 25% of target
bonus)
The
computation of this portion of the target bonus will be based
upon accomplishments of the Company and the executive
participants desi
| 
