HAYES LEMMERZ INTERNATIONAL, INC. OFFICER BONUS PLAN AWARD AGREEMENTExecutive Compensation Plan Agreement |
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EXHIBIT 10.2
HAYES LEMMERZ INTERNATIONAL, INC.
OFFICER BONUS PLAN
AWARD AGREEMENT
AWARD AGREEMENT, entered into as of _________, 2005, between HAYES
LEMMERZ INTERNATIONAL, INC., a Delaware corporation (the "Company"), and
_________________(the "Executive"), an employee of the Company.
WHEREAS, the Company desires to grant to the Executive this Award to
provide financial incentive for the Executive to achieve strategic performance
objectives; and
WHEREAS, the terms of this Award are subject to the terms of the Hayes
Lemmerz International, Inc. Officer Bonus Plan (the "Plan"), and any term
capitalized in this Award Agreement but not defined herein shall have the
meaning assigned to it in the Plan;
NOW, THEREFORE, in consideration of the mutual covenants hereinafter
set forth and for other good and valuable consideration, the parties hereto
have agreed and do hereby agree as follows:
1. Award.
(a) The Company shall pay the Executive an amount equal to the
percentage determined under paragraph (b) multiplied by the Executive's Base
Salary, determined using the average actual annual salary rate during the
Performance Period, based on the number of days at each actual salary rate.
(b) The percentage shall be determined based on the Executive's
satisfaction (or failure to satisfy) as determined by the Committee the
Performance Criteria identified in Exhibit A during the Performance Period.
(c) The Performance Period for this Award shall be the period
beginning on January 1, 2005 and ending on June 30, 2006.
2. Certain Adjustments. The Committee in its sole discretion may amend
or adjust Exhibit A or other terms and conditions of an outstanding Award.
3. Payment. Subject to Section 4, the amount payable to the Executive
under Section 1 shall be paid in cash according to the following schedule -
33-1/3% in July 2006, 33-1/3% in July 2007, and 33-1/3% in July 2008.
4. Termination of Employment.






