Attached files
| file | filename |
|---|---|
| 8-K - YTB International, Inc. | v191066_8k.htm |
| EX-99.1 - YTB International, Inc. | v191066_ex99-1.htm |
| EX-10.4 - YTB International, Inc. | v191066_ex10-4.htm |
| EX-10.3 - YTB International, Inc. | v191066_ex10-3.htm |
| EX-10.2 - YTB International, Inc. | v191066_ex10-2.htm |
(July
2010)
YTB
International, Inc.
Fiscal
2010
|
Incentive
Plan
|
|
Objective:
|
YTB
International, Inc. (the “Company”) has
established this Incentive Plan to provide additional compensation to the
Executive for achieving specific goals and/or targets by the end of a
fiscal year.
|
|
Award:
|
The
Incentive Plan will pay out up to a percentage of base pay at the start of
each incentive period for achieving budget. Excluded from the
calculation are car allowances, club dues, pension contributions or other
forms of compensation received. The award can reach 150% of the
target for achieving beyond budget.
|
Calculation
|
Of
Award:
|
Each
objective outlined in the Incentive Plan will be assigned a points
allocation. All objectives should be quantifiable and not
subjective. The actual performance of the Company will be
compared to the objectives and a percent of completion will be
calculated. The total percent completed based on a 100% total
will be multiplied by the award level and then multiplied by the base pay
to determine the total award.
|
Discretionary
|
Objectives:
|
The
Executive will complete a list of discretionary objectives representing
specific tasks to be accomplished during the year. These
objectives should address specific problem areas to be corrected or
performance enhancement issues that can be quantified and
measured. Normal job duties should be excluded since those are
expected to be completed as compensation for base
pay.
|
|
Payout:
|
The
incentive award should be paid no later than March 15th
following the close of a fiscal year end of December 31st.
The total award cannot exceed 25% of the free cash flow of the Company for
the year. The payout may be made on a monthly basis if adequate credit
lines are not available to make a lump sum
distribution.
|
Achievement
|
Categories:
|
The
achievement will be measured against the following
criteria:
|
·
Growth in
Business
Owners
25%
· Free Cash
Flow
25%
(July
2010)
· Earnings
Before Interest, Taxes,
Depreciation, 25%
Amortization, Discontinued Operations
and
Excluding Impairment
Charges
· Discretionary
Objectives
25%
Eligible
|
Participants:
|
The
eligible participants will be awarded compensation based on the following
percent of annual base salary:
|
· Directors
12.5% to
18.75%
· Vice
Presidents
25.0% to
37.5%
· Executive
Officers**
50.0% to
75.0%
**
Executive Officers’ awarded compensation will be reduced by
commissions/overrides earned during the fiscal year.
The
participant can earn up to 150% of the target award if actual performance
exceeds the goals and objectives for the year by 150%. The
Discretionary target of the award will track with the weighted average of the
Free Cash Flow target and the Pre-tax Operating Income target.
Company
|
Discretion:
|
This
plan is a voluntary plan on behalf of the Company and may be modified or
cancelled on an annual basis if the performance of the Company does not
warrant such a plan.
|