EXHIBIT 10.2
Veeco Instruments Inc.
2009 Supplemental Management Profit Sharing Plan
August 20, 2009
· Based on H2 2009 Business Unit results as measured by EBITA
· Payable when BU EBITA > 5% of Revenue
· Group (PE & M&I) and Corporate awards will be based on the weighted average results for relevant Business Units
· Supplemental Profit Sharing pool funded by EBITA based on EBITA as a % of revenue (after taking into account the cost of the additional bonus):
EBITA as a % of Revenue | | Supplemental Profit Sharing Pool
% of EBITA | |
Less than 5% | | 0 | % |
5% but less than 10% | | 2 | % |
10% but less than 15% | | 4 | % |
15% but less than 20% | | 6 | % |
EBITA % 20%+ | | 8 | % |
· As with other profit sharing plans, supplemental profit sharing awards will be distributed in proportion to each individual’s target bonus.
· Supplemental Profit Sharing awards, if earned, will be paid with normal 2009 bonus (in mid-March 2010) but subject to recovery (“claw back”) in the event the recipient voluntarily terminates his or her employment or is terminated for cause on or before December 31, 2010.
