2016 Laird Management
Bonus Program
Objective
The objective of the Laird Management Bonus Program is to reward individuals for accomplishing their
annual objectives that help the company to meet its financial and strategic goals. The program and the
payouts are discretionary and is not a guaranteed portion of annual income.
Eligibility Guidelines
Eligible participants are full-time employees identified as participants in the management bonus plan
per their employment agreement/offer letter or other written mechanism. Any new hires starting after
October 1st will not be eligible for the current year management bonus program. All new hires during
the plan year hired prior to October 1st will be eligible to receive a prorated bonus based on their
performance towards objectives if the company achieves its results.
Payout Framework
Individual payout of bonus will be based on an individuals’ performance in relation to their annual
objectives set at the beginning of the Plan Year. Payouts can be less, the same or more than the annual
target percentage based on an individual’s performance results. All payout decisions are
recommended by an employee’s immediate manager and approved by the executive team. All finalized
payout decision amounts are final. Bonus payout targets will be at the discretion of an individual’s
manager compared to his/her performance and contributions and final approval by the executive
team.
Payout Timing and Rules
If eligible and approved, payout for the fiscal year bonus will be paid in March of the following year as
part of a normally scheduled payroll, less applicable taxes. Employees must be in good standing on the
date the bonus for the bonus to be paid. An employee is “in good standing” if on the date the bonus
payment is made he/she is not under disciplinary action or under termination notice.