“(b) Annual Bonus. Executive will continue to participate in the Company’s annual incentive compensation plan, as established by the Management Development and Compensation Committee of the Board (the “Compensation Committee”) from time to time. Beginning January 1, 2011 and continuing for the remainder of the Employment Period, Executive’s target annual bonus will be seventy-five percent (75%) of his Base Salary in effect for such year (the “Target Bonus”), and his actual annual bonus may range from 0% to 150% of Base Salary (i.e., a maximum possible bonus of two times the Target Bonus). The amount of such annual bonus, if any, will be based upon (i) the achievement of certain financial performance goals, as may be established and approved by the Compensation Committee, and (ii) the achievement of personal performance goals as may be established by Executive’s immediate supervisor.” |
/s/ Jim Trevathan | ||||
Jim Trevathan | ||||
WASTE MANAGEMENT, INC. | ||||
By: | /s/ David P. Steiner | |||
David P. Steiner | ||||
Chief Executive Officer | ||||