EXHIBIT 10.20
2005 Incentive Pool Plan
o Incentive dollars allocated to employees based on Company Title
o Should Company goals be met, discretionary incentive bonuses will be
allocated to employee groups using guidelines as follows:
Company Net Income vs. Budget
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<80% 100% 125%
TITLE Minimum Target Target
- ----- ------- ------ ------
CEO 0% 40% 60%
EVP/Pres 0% 35% 50%
SVP 0% 30% 40%
VP 0% 25% 30%
AVP 0% 15% 20%
Other Officers 0% 0% 0%
Other Employees 0% 0% 0%
ACCRUAL
Consolidated Net Income (000's) 5,730 7,163 8,954
Est. Incentive Pool (000's) 300 1,200 1,768
o For the calendar year 2005 we will accrue $300,000 for incentives
regardless of net income.
o The incentive pool accrual: (Base Allocation dollars are for payment of
incentives earned throughout the year. All distributions are considered
discretionary and are not guaranteed.)
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After-tax Consolidated Net Income % Of After-Tax Amount In Pool
Income (000's)
- ------------------------------------ ------------------- ---------------------
0 to 5,000M Base Allocation 300
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5000 to 7,300M 40% 1,220
- ------------------------------------ ------------------- ---------------------
> 7,300M 30% 1,716 (at Net
Income of 8,954M)
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