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Exhibit 10.20
Executive Officers’ Incentive
Plan
July 17, 2009
Executive officer’s will earn
their respective target annual incentive compensation (the “
Annual Bonus ”) based on achievement of annual
financial goals as follows:
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In the event that the Company
achieves 100% of the cash EPS bonus target for the fiscal year, as
set by the Board (the “Cash EPS Target”), 100% of the
Annual Bonus will be earned.
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In the event that the Company
achieves 73% of the Cash EPS Target, 50% of the Annual Bonus will
be earned.
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In the event that the Company
achieves less than 73% of the Cash EPS Target, no Annual Bonus will
be earned.
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In the event that the Company
achieves between 73% and 100% of the Cash EPS Target, the percent
of Annual Bonus earned (beyond the 50% earned as a result of
achieving 73% of plan) will be calculated on a straight-line basis
based upon the percent of the Cash EPS Target achieved between such
73% and 100%.
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In the event that the Company
achieves 133% or more of the Cash EPS Target, 200% of the Annual
Bonus will be earned.
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In the event that the Company
achieves between 100% and 133% of t
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