UNITED ONLINE, INC. 2005 MANAGEMENT BONUS PLANExecutive Compensation Plan Agreement |
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Exhibit 10.01
UNITED ONLINE, INC.
2005 MANAGEMENT BONUS PLAN
I. PURPOSES OF THE PLAN
1.01 The United Online, Inc. (“Company”) 2005 Management Bonus Plan (“Plan”) is established to promote the interests of the Company by creating an incentive program to (i) attract and retain employees who will strive for excellence, and (ii) motivate those individuals to set and achieve above-average objectives by providing them with rewards for contributions to the financial performance of the Company.
II. ADMINISTRATION OF THE PLAN
2.01 The Plan is hereby adopted by the Company’s Compensation Committee of the Board of Directors (the “Committee”), and shall be administered by the Committee pursuant to the powers provided to the Committee by the Board of Directors of the Company.
2.02 The interpretation and construction of the Plan and the adoption of rules and regulations for administering the Plan shall be made by the Committee. Decisions of the Committee shall be final and binding on all parties who have an interest in the Plan.
III. DETERMINATION OF PARTICIPANTS
3.01 The following individuals will participate in the Plan: Mark R. Goldston, Charles S. Hilliard, Frederic A. Randall, Jr., Gerald J. Popek, Jon O. Fetveit and Robert J. Taragan. An individual shall be eligible to participate in the Plan if employed by the Company or any of its participating subsidiaries on the earlier of March 1, 2006 or the date on which bonuses under this Plan are distributed. If an individual is not employed by the Company or a participating subsidiary on such date, he will not eligible to receive a bonus under the Plan. However, an individual who is on a leave of absence or whose employment terminates and is then re-hired in the same fiscal year may remain eligible at the discretion of the Committee, and the Committee may provide a pro rata bonus. In the event of termination of an individual’s employment as a result of death or disability, the Committee shall provide the individual or the individual’s estate with a pro rata bonus.
3.02 For purposes of the Plan:
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