EXHIBIT 10
1997 EXECUTIVE BONUS PLAN
SENIOR VICE PRESIDENT, IN FOCUS SYSTEMS
PRESIDENT AND CHIEF EXECUTIVE OFFICER,
GENIGRAPHICS
EFFECTIVE APRIL 1, 1997
IN FOCUS SYSTEMS, INC.
1997 EXECUTIVE BONUS PLAN
SR. VICE PRESIDENT, IN FOCUS SYSTEMS
PRESIDENT AND CHIEF EXECUTIVE OFFICER, GENIGRAPHICS
POLICY: It is In Focus Systems' policy to provide the Sr. Vice President,
the opportunity for increased compensation based upon performance
against his individual goals/objectives.
GUIDELINES: 1. Adoption of Plan
This Sr. Vice President, Bonus Plan (the "Plan") was adopted
by the Board of Directors of In Focus Systems, Inc. (the
"Company") effective April 17, 1997.
2. Purpose of Plan and Effective Date
The purpose of the Plan is to establish the terms and
conditions under which the Company will pay the Sr. Vice
President bonuses for the calendar year beginning January 1,
1997 and ending December 31, 1997.
The provisions of this plan will become effective April 1,
1997.
The Senior Vice President bonus for 'Q1 1997 will be
calculated based 100% on annual company performance against
PBT objectives. His target bonus for 'Q1 shall be 35% of
actual base salary earned in 'Q1.
Unless the Board of Directors specifically provides
otherwise, all Sr. Vice President bonuses will be awarded
solely in accordance with this Plan.
3. Eligibility
Eligibility is limited to the Sr. Vice President.
Eligible Sr. Vice Presidents must be in active pay status
for an entire quarter to be paid profit sharing for that
quarter. The Sr. Vice President must also be in active pay
status when profit sharing checks are distributed in order
to receive that quarter's profit sharing pay-out.
In the event that the Sr. Vice President is with the Company
for less than one year, a pro-rated bonus will be calculated
based on number of months employed. No annual bonus will be
paid if a Sr. Vice President joins the Company after October
1, 1997. Sr. Vice Presidents must be actively employed on
the last day of the year to be eligible for any annual bonus
amount.
4. Plan Components
(a) Profit Sharing
The first component of the bonus plan shall be the payment
of the profit sharing, paid quarterly. The percentage to be
paid (multiplied by the Sr. Vice President's quarterly
salary) shall be at the same rate as calculated for other
employees in accordance with the currently approved In Focus
Systems Profit Sharing Program. The payment to be made to
the Sr. Vice Presidents shall not reduce the amount to be
paid to other employees, i.e., shall not come from the
profit-sharing pool calculated for other employees.
(b) Annual Bonus
The second component of the bonus plan shall be an annual
bonus paid at year end based on the performance of the Sr.
Vice President against his individual goals/objectives.
This pay-out shall be calculated as follows:
_ The targeted bonus shall be 60 percent and shall be
calculated using the following formula:
Bonus = (1.00G) (60%)
where:
- G = Individual performance (vs. 1997 goals)
determined by the CEO, by comparing the individual
Sr. Vice President's performance against his major
1997 goals.
_ Other limitations/constraints regarding calculation of
the bonus are as follows:
- Individual Goals Component of Bonus = 0 if G is
less than .75
- Maximum bonus component for individual performance
= 130%.
5. Payment of Sr. Vice President Bonus
Payment of the Sr. Vice President Bonus Plan will be based
on audited year-end results, and will be distributed within
30 days after the audit has been completed.
6. Discretion of the Board of Directors
Nothing in this Plan shall prohibit the Board of Directors
from awarding a bonus to one or more Sr. Vice Presidents in
addition to the Sr. Vice President Bonus awarded pursuant to
this Plan.
The Board of Directors reserves the right to modify, change
or rescind this policy at any time at its sole discretion as
is required to meet the Company's objectives.
Any annual bonus greater than $100,000 will require approval
of the Corporate Compensation Committee.