EXHIBIT 10.1 2005 R. G. BARRY MANAGEMENT BONUS PLAN OBJECTIVESExecutive Compensation Plan Agreement |
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EXHIBIT 10.1
2005 R. G. BARRY
MANAGEMENT BONUS PLAN
OBJECTIVES
o Consistently achieve company and individual objectives.
o Enhance ability to attract, recruit, and retain a top-notch professional
management team.
o Provide motivation through "win-sharing".
PLAN SPECIFICATIONS
1. PARTICIPATION LEVELS
Selected exempt associates participate in the plan. There are four
levels of participation. The levels listed below are based on a position's
impact on profits.
Level Position
----- --------
A President/CEO
B Corporate Executives
C Senior Executives
D Department Heads/Key Contributors
The base salary as of the beginning of the plan year (January 1st) is used for
the purposes of calculating bonus payments.
2. BONUS AWARDS OPPORTUNITY.
Threshold, target and maximum bonus award levels as a percentage of
base salary are established by level. Target award opportunities correspond to
market competitive bonus opportunities.
LEVEL THRESHOLD TARGET MAXIMUM
----- --------- ------ -------
A 20% Determined 80%
B* 12.5% Annually by 50%
C 10% Board of Directors 40%
D 6
