Exhibit 10.2
2013 Diversified Restaurant Holdings, Inc. Short-Term Incentive Program
Short-term Incentive Program – Designed to support the business’ objectives of profitable growth through a combination of new store openings, same store sales growth, cost savings, and key strategic initiatives.
Corporate Financial | |||||||||||||
Name | Title | 2013 Target Bonus | (80% CEO and CFO and 70% all Others) | $ of Bonus at Target Associated with: | |||||||||
% of Salary | $ | Corporate EBITDA | Same Store Sales Growth (Bagger Daves) | Same Store Sales Growth (Buffalo Wild Wings) | Strategic / Individual | Corporate EBITDA | Same Store Sales Growth (Bagger Daves) | Same Store Sales Growth (Buffalo Wild Wings) | Strategic / Individual | ||||
Michael Ansley | Chairman, President, & CEO | 60% | $129,000 | 70% | 5% | 5% | 20% | $90,300 | $6,450 | $6,450 | $25,800 | ||
David Burke | CFO & Treasurer | 40% | $80,000 | 70% | 5% | 5% | 20% | $56,000 | $4,000 | $4,000 | $16,000 | ||
Jason Curtis | COO | 40% | $74,000 | 60% | 5% | 5% | 30% | $44,400 | $3,700 | $3,700 | $22,200 | ||
Ioana Ben-Ezra | Chief Compliance Officer and Controller | 30% | $36,000 | 60% | 5% | 5% | 30% | $21,600 | $1,800 | $1,800 | $10,800 | ||
Lupita Distaso | VP of Purchasing | 20% | $23,000 | 60% | 5% | 5% | 30% | $13,800 | $1,150 | $1,150 | $6,900 | ||
Rebecca Raver | VP of Marketing | 20% | $23,000 | 60% | 5% | 5% | 30% | $13,800 | $1,150 | $1,150 | $6,900 | ||
Amy Kuschel | Director of HR | 10% | $6,500 | 60% | 5% | 5% | 30% | $3,900 | $325 | $325 | $1,950 | ||
Total | $371,500 | $243,800 | $18,575 | $18,575 | $90,550 |
2013 Financial Metrics:
Threshold | Target | Maximum | |
Payout (as a %of Target) | 50% | 100% | 150% |
Corporate EBITDA | $12,000,000 | $15,000,000 | $18,000,000 |
Same Store Sales Growth (Bagger Daves) | 3% | 4% | 6% |
Same Store Sales Growth (Buffalo Wild Wings) | 1.5% | 2% | 3% |
Straight-line interpolation will be used to calculate actual bonus earned for 2013, such that any performance below Threshold will result in a payout of 0% for the metric and all amounts will be capped at 150% of target.
Strategic/Individual Goals will consist of 3-5 specific and measureable objectives where possible. Committee and management evaluation of achievement of goals will be used to develop final award for this component of the incentive program.