EXHIBIT 10(dd)
CONFIDENTIAL MEMORANDUM
To: (First Name) (Last Name)
From: Xxxxx Xxxxxxx
Date: March 16, 1995
Subject: Key Management Incentive Cash Bonus Plan
______________________________________________________________________________
It is the company's total compensation philosophy to provide key employees such
as yourself with competitive compensation comprised of three components. These
components are base cash compensation, incentive cash bonus compensation, and
incentive stock options and/or restricted grants. This memo is intended to
provide you with information about the Company's Key Management Incentive Cash
Bonus Plan. The Board of Directors has approved you as a participant in this
Plan for Fiscal Year 1995. The details of this Plan are as follows:
The pool of available money to distribute to participants will be determined
according to the following schedule:
FY 1995 PRE-TAX EARNINGS CASH BONUS POOL
($ 8,000,000) $ 0
($ 2,500,000) $ 270,000
$ 3,000,000 $ 540,000
$ 8,500,000 $ 810,000
$14,000,000 $1,080,000
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The following assumptions will be in effect for The Fiscal Year 1995 Key
Management Incentive Cash Bonus Plan:
1. FY 1995 Pre-Tax Earnings will be subject to the following rules:
. Gains and/or losses on the sale of assets will not be included,
. Increases and/or decreases in reserves will not be included, and
. Tape Division milestones which are met will not be included,
milestones which are not met will be included.
2. Payout will be made at the conclusion of the Annual Fiscal Year Audit and
upon approval of the Compensation Committee of the Board of Directors.
3. Individual bonus distributions will be determined by Xxxxx Xxxxxxx based on
input from participants.
4. To receive a payout, participants must be employees of the Company for the
entire Fiscal Year and active employees with the Company on the payout
distribution date. There is no guarantee of payment under this plan.
