Attached files
| file | filename |
|---|---|
| EXCEL - IDEA: XBRL DOCUMENT - HESKA CORP | Financial_Report.xls |
| 10-K - FORM 10-K - HESKA CORP | d305286d10k.htm |
| EX-31.1 - EX-31.1 - HESKA CORP | d305286dex311.htm |
| EX-23.1 - EX-23.1 - HESKA CORP | d305286dex231.htm |
| EX-31.2 - EX-31.2 - HESKA CORP | d305286dex312.htm |
| EX-32.1 - EX-32.1 - HESKA CORP | d305286dex321.htm |
| EX-21.1 - EX-21.1 - HESKA CORP | d305286dex211.htm |
| EX-10.37 - EX-10.37 - HESKA CORP | d305286dex1037.htm |
| EX-10.27 - EX-10.27 - HESKA CORP | d305286dex1027.htm |
| EX-10.36 - EX-10.36 - HESKA CORP | d305286dex1036.htm |
| EX-10.47 - EX-10.47 - HESKA CORP | d305286dex1047.htm |
Exhibit 10.8
Heska Corporation
2012 Management Incentive Plan
| 1. | The Category Percentages for the 2012 MIP are as follows: |
| Title |
Heska MIP | |
| Chief Executive Officer |
50.0% of base pay | |
| President |
35.0% of base pay | |
| Chief Financial Officer |
35.0% of base pay | |
| Executive Vice Presidents |
35.0% of base pay | |
| Vice Presidents |
35.0% of base pay | |
| Managing Directors |
25.0% of base pay | |
| Directors |
25.0% of base pay |
| 2. | The Plan Allocation for the 2012 MIP is as follows: |
50% on overall achievement of the Financial Performance Metric (“FPM”) and 50% on Strategic Growth Initiatives (“SGI”).
| 3. | The Key Parameters for the 2012 MIP are as follows: |
| • | Pre-MIP Operating Income – 50%. |
| • | Strategic Growth Initiative Milestone Achievement – 50%, as defined below. |
| • | Growth Initiative A—Sales Productivity |
| • | Milestone A: Achieve a 15% year-over-year growth in revenue productivity per average direct sales headcount. |
| • | Growth Initiative B—New Product Introductions |
| • | Milestone B1: Launch a new product by end of year 2012 |
| • | Milestone B2: Launch 2nd new product by end of year 2012 |
| • | Milestone B3: Launch 3rd new product by end of year 2012 |
Growth Initiative B milestones can be achieved through a new product launch of any product discussed at the December 12, 2011 meeting of the Compensation Committee of Heska Corporation’s Board of Directors:
| 4. | The Payout Structure for the 2012 MIP is as follows: |
| • | For FPM of Pre-MIP Operating Income see the table below. |
| • | For SGI, achievement of milestones and Pre-MIP Operating Income of $3,579,000, see the table below. Each milestone is worth 25% of the potential MIP payout for SGI. |
| • | Payouts for each parameter will be calculated independent of the success or failure of the other parameter. |
| • | Maximum MIP Payout for Proposed 2012 MIP for the financial metric parameter is paid at $8,947,500 of Pre-MIP Operating Income and 100% achievement of the five milestones for SGI. |
| • | For example, 100% achievement of the SGI milestones and $3,000,000 of Pre-MIP Operating Income would pay no MIP for either category. |
| • | In another example, achievement of 50% of the SGI milestones and $5,368,500 of Pre-MIP Operating Income would pay MIP of $289,500 for SGI and $289,500 for FPM. |
| • | Any MIP payment in excess of the Maximum MIP Payout shall be at the sole and absolute discretion of the Compensation Committee. |
Heska Corporation
2012 MIP Payout Table
| Operating Income Pre-MIP |
Operating Income Post-MIP |
FPM MIP Payout % |
FPM MIP Amount |
SGI Payout Amount* |
Total Payout Amount |
|||||||||||||||
| 3,579,000 | 3,000,000 | 0 | % | — | 579,000 | 579,000 | ||||||||||||||
| 3,936,900 | 3,300,000 | 10 | % | 57,900 | 579,000 | 636,900 | ||||||||||||||
| 4,294,800 | 3,600,000 | 20 | % | 115,800 | 579,000 | 694,800 | ||||||||||||||
| 4,652,700 | 3,900,000 | 30 | % | 173,700 | 579,000 | 752,700 | ||||||||||||||
| 5,010,600 | 4,200,000 | 40 | % | 231,600 | 579,000 | 810,600 | ||||||||||||||
| 5,368,500 | 4,500,000 | 50 | % | 289,500 | 579,000 | 868,500 | ||||||||||||||
| 5,726,400 | 4,800,000 | 60 | % | 347,400 | 579,000 | 926,400 | ||||||||||||||
| 6,084,300 | 5,100,000 | 70 | % | 405,300 | 579,000 | 984,300 | ||||||||||||||
| 6,442,200 | 5,400,000 | 80 | % | 463,200 | 579,000 | 1,042,200 | ||||||||||||||
| 6,800,100 | 5,700,000 | 90 | % | 521,100 | 579,000 | 1,100,100 | ||||||||||||||
| 7,158,000 | 6,000,000 | 100 | % | 579,000 | 579,000 | 1,158,000 | ||||||||||||||
| 7,515,900 | 6,300,000 | 110 | % | 636,900 | 579,000 | 1,215,900 | ||||||||||||||
| 7,873,800 | 6,600,000 | 120 | % | 694,800 | 579,000 | 1,273,800 | ||||||||||||||
| 8,231,700 | 6,900,000 | 130 | % | 752,700 | 579,000 | 1,331,700 | ||||||||||||||
| 8,589,600 | 7,200,000 | 140 | % | 810,600 | 579,000 | 1,389,600 | ||||||||||||||
| 8,947,500 | 7,500,000 | 150 | % | 868,500 | 579,000 | 1,447,500 | ||||||||||||||
| 8,947,500+ | 7,500,000 | Capped | ||||||||||||||||||
| * | Assumes 100% achievement of milestones. |