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Exhibit
10.1
IMMUCOR,
INC.
FY 2009 Bonus Plan
and
FY 2009 Long-Term
Incentive Awards Plan
[Adopted 5-21-08]
Bonus Plan
This is a plan for all officers,
supervisors, managers and directors.
All bonuses will be based on the company
achieving a target net income established by the Compensation
Committee of the Board of Directors on the date the bonus plan was
adopted, subject to such adjustments to target net income as may be
deemed appropriate by the Compensation Committee to account for
acquisitions, reorganizations and other events not contemplated by
the Compensation Committee at the time the bonus plan was
adopted.
All Sales, Marketing, Technical Support,
Field Service and Field Technical Support officers, supervisors,
managers and directors (other than Field Sales employees), will be
eligible to participate in the bonus plan only if the
applicable country/region revenue goal is achieved, in addition to
the company achieving target net income. Country/region revenue
goals will be based on the FY 2009 budget and communicated to each
group affected.
Field Sales employees, who are
compensated on a commission basis, will not be eligible to
participate in the bonus plan.
To be eligible to receive a bonus, the
employee must have been employed by the company not later than
March 1 of the fiscal year to which the bonus applies (the
“bonus year”), and must be employed by the company at
the time bonuses for the bonus year are paid. For employees who
have not been employed by the company for the full bonus year,
bonuses will be prorated on a monthly basis, with initial
employment during the first 15 days of a month being treated as
employment for the full month, and initial employment after the
first 15 days of a month not being treated as a month of
employment.
Award levels are stated as a percentage
of base compensation or salary. For LTI awards this means base
compensation or salary as of May 31, 2008; for bonuses this
means base compensation or salary as of May 31,
2009.
Executive Officers
Executive officers will be eligible for
bonuses based on the amount of net income. This group currently
includes the CEO, CFO, CSO and General Counsel.
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If net income is the
following
percent
of target net income*
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Bonus (as percent of base
compensation) will be as follows
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CEO
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CSO
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CFO & General
Counsel
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<100%
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0% |
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0% |
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0% |
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100%
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25% |
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25% |
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25% |
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105%
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43.75% |
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37.5% |
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31.25% |
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110%
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62.5% |
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50% |
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37.5% |
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115%
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81.25% |
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62.5% |
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43.75% |
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120% or above
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100% |
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75% |
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50% |
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Percentage bonuses will be prorated for in-between percentages.
For example, if net income were 108% of target net income, then the
bonus for the CEO would be 55% of base compensation [(43.75%) + (.6
x 18.75%)]. |
Vice Presidents
Vice Presidents (other than executive
officers) will be eligible for bonuses based on the amount of net
income and individual performance ratings. Performance ratings will
be based on the Global Appraisal form and comments from the
360° Feedback System.
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