EXHIBIT 10.1 ONEIDA LTD. MANAGEMENT ANNUAL INCENTIVE PLAN FISCAL YEAR JANUARY 2006 CASH BONUSExecutive Compensation Plan Agreement |
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EXHIBIT 10.1
ONEIDA LTD.
MANAGEMENT ANNUAL INCENTIVE PLAN
FISCAL YEAR JANUARY 2006
CASH BONUS
Objective:
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To create a Cash Bonus program that rewards managerial-level employees for
meeting and exceeding Company performance standards based on three Components:
1. Divisional Financial Results
2. Divisional Objectives & Key Performance Indicators
3. Corporate Financial Results
Plan Summary:
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o Targets will be established by Component for each participant.
o A pre-determined percentage of base salary will be designated for each
Participant. That pre-determined percentage will be allocated to the
Components of the plan as outlined below.
o The Cash Bonus for each Component will be equal to the allocated
pre-determined percentage times a multiplier, times base salary.
o The total Cash Bonus payout will be the sum of the Cash Bonus for each
Component.
o If 100% of Target is achieved for a Component, the participant will
qualify to use 100% as a multiplier. Based on achieving up to 110% of
the Target, the multiplier may be increased by up to 110%. Based on
achieving as low as 90% of the Target, the multiplier may be reduced to
as low as 50%. See Multiplier Table below
o To earn a Cash Bonus for any Component at least 90% of Target must be
attained for that Component.
Allocation by Components for Divisional Employees:
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1. 60% - Divisional Financial Performance - Measured by Contribution to
Profit (Sales Margin less division specific selling, general,
distribution and administration expenses), less cost of capital.
2. 20% - Divisional Objectives and Key Performance Indicators - As outlined
