EX-10.16 14 g67411kex10-16.txt DESIGNATED EXECUTIVE OFFICER BONUS PLAN 1 EXHIBIT 10.16 DESIGNATED EXECUTIVE OFFICER BONUS PLAN FOR FISCAL 2000 ELIGIBILITY AND PARTICIPATION Eligibility in this plan is limited to the Designated Senior Executive Officers, which presently includes the following: o Chairman of the Board and Chief Executive Officer o President and Chief Operating Officer TARGET INCENTIVE AWARDS For fiscal year 2000, the percentages defined for each participant are shown below: TARGET INCENTIVE AWARD POSITION AS A PERCENT OF BASE SALARY -------- --------------------------- COB/CEO 50% Pres/COO 50% PERFORMANCE MEASURES CORPORATE PERFORMANCE MEASURES PARTICIPANTS -------------------- ------------ Corporate Revenues 30% Corporate Income Before Tax 70% ---- Total 100% DEFINITION OF CORPORATE INCOME This definition excludes extraordinary items and changes in accounting principles, as defined by GAAP. Extraordinary items, as defined by GAAP, include items of a very unusual and infrequent nature, a good example of which is a loss incurred in the early extinguishment of debt. Changes in accounting principles as a result of new pronouncements or requirements issued by accounting authorities such as SEC, FASB, etc. Non-recurring and unusual items not included or planned for in the budgeted bonus targets may be excluded from the corporate income before income taxes, as defined, at the recommendation of management and at the discretion and agreement of the Nominating and Compensation Committee.