AGREEMENT
This Agreement between Industri-Matematik International (IMI) and Xxxx-Xxxxx
Xxxxxxxx (LGPE), personal ID number 450708-5431, has been made and entered into
as follows:
1. Effective from May 1, 1997 a base salary of SEK 75,000 per month will be
paid to LGPE
2. The pension-based salary amounts to SEK 915,000 per year effective from May
1, 1998.
3. Pension premiums shall be cost neutral towards the SPP/ITP plan for salaried
employees.
4. LGPE is entitled within the framework of the ITP plan to discuss alternative
pension plan solutions with The Company's insurance agent.
INDUSTRI-MATEMATIK INTERNATIONAL
--------------------------------- 970926
Stig Durlow Date
The above Agreement is hereby accepted and agreed to:
--------------------------------- 970826
Xxxx-Xxxxx Xxxxxxxx Date
Bonus Plan FY98
Xxxx-Xxxxx Xxxxxxxx
This document describes your bonus plan for FY98 (970501-980430)
The variable portion of your salary (the bonus) includes two components: (1) one
which is tied to the company's total revenue, and (2) one which is tied to the
company's pre-tax income, as defined below. In both cases, the reference is to
the business activities of Industri-Matematik International Corp. (IMIC). Each
of the targets are based on the information set forth in attachment 1.
The total bonus payable can vary from SEK 0 to SEK 600,000 with the target bonus
set at SEK 300,000. The target bonus of SEK 300,000 is realized when the total
revenue and pre-tax income targets are reached. (The total revenue target for
IMIC is defined as US $ 85,000,000 and the pre-tax income target as US $
11,267,000.)
The maximum bonus payable is SEK 600,000.
1. The bonus relating to total revenue is paid as follows:
Total revenue (USD) Bonus (SEK)
74,375,000 0
85,000,000 75,000
95,625,000 150,000
The maximum bonus payable for this component is SEK 150,000.
2. The bonus relating to pre-tax income is paid as follows:
Pre-tax income (USD) Bonus (SEK)
8,450,250 0
11,267,000 225,000
14,083,750 450,000
The maximum bonus payable for this component is SEK 450,000.
Other terms and conditions:
- If Xxxx-Xxxxx Xxxxxxxx terminates employment during the budget year, no
bonus is payable.
- Vacation compensation is not accrued on bonus payments
- Should the company's budget be changed, especially as a result of a business
acquisition or divestiture, then the calculations contained herein shall be
changed in the corresponding month for that period for which the change
applies.
The bonus will be paid out after the company's annual financial statements
have been audited and approved.
For Industri-Matematik International Corp.
------------------------------------------ 970926
Stig Durlow Date
The above bonus plan is hereby accepted and agreed to:
------------------------------------------ 970926
Xxxx-Xxxxx Xxxxxxxx Date
