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Employment Package for Sekar Sundararajan

Executive Compensation Plan Agreement

Employment Package for Sekar Sundararajan | Document Parties: HOOKER FURNITURE CORP You are currently viewing:
This Executive Compensation Plan Agreement involves

HOOKER FURNITURE CORP

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Title: Employment Package for Sekar Sundararajan
Date: 6/15/2009
Industry: Furniture and Fixtures     Sector: Consumer Cyclical

Employment Package for Sekar Sundararajan, Parties: hooker furniture corp
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Exhibit 10.2

 

Employment Package for Sekar Sundararajan

 

Start date:

February 8, 2008

 

 

Title:

Executive Vice President – Operations

 

 

Salary:

$250,000 annually, payable $20,833.33 monthly. This position will be classified as a Named Executive for Securities and Exchange Commission reporting and compensation (including bonuses) will be subject to annual review by the Compensation Committee of the Board of Directors.

 

 

Bonus:

Annual bonus paid on or about April 15 th each year for the fiscal year ended the previous January. Bonus computed at 0.50% of consolidated earnings before tax above $12.5M and subject to a 12.5% positive/negative adjustment based on individual performance and attainment of personal goals. For fiscal years 2009 and 2010 each Annual bonus will vest on the last day of the fiscal year. Bonus for FY 2009, payable April 15, 2009 is guaranteed at a $100,000 minimum subject to the 12.5% adjustment. Should the employee terminate his employment at any time following the beginning of the 2011 fiscal year the annual bonus for the year of termination will be prorated and vest under the following schedule:

 

Terminate during the first fiscal quarter      -  25%,

 

terminate during the se


 
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