Attached files
| file | filename |
|---|---|
| 10-Q - MSC INDUSTRIAL DIRECT CO INC | v170401_10q.htm |
| EX-31.2 - MSC INDUSTRIAL DIRECT CO INC | v170401_ex31-2.htm |
| EX-31.1 - MSC INDUSTRIAL DIRECT CO INC | v170401_ex31-1.htm |
| EX-10.3 - MSC INDUSTRIAL DIRECT CO INC | v170401_ex10-3.htm |
| EX-32.2 - MSC INDUSTRIAL DIRECT CO INC | v170401_ex32-2.htm |
| EX-32.1 - MSC INDUSTRIAL DIRECT CO INC | v170401_ex32-1.htm |
| EX-10.5 - MSC INDUSTRIAL DIRECT CO INC | v170401_ex10-5.htm |
| EX-10.1 - MSC INDUSTRIAL DIRECT CO INC | v170401_ex10-1.htm |
| EX-10.4 - MSC INDUSTRIAL DIRECT CO INC | v170401_ex10-4.htm |
EXHIBIT
10.2
On
December 22, 2009, the Compensation Committee approved the Company's annual
incentive bonus plan for fiscal year 2010. The plan provides
executive officers with the opportunity to earn annual cash bonuses with an
allocation of 25% of target awards to the Compensation Committee's qualitative
evaluation of individual performance and management achievement of strategic
business initiatives (the "Discretionary Component"), and 75% of target awards
and award levels above target based on achievement of adjusted diluted earnings
per share for fiscal 2010 (the "Performance Component").
Under the
annual incentive bonus plan, target bonus awards are set at various levels
determined by the Compensation Committee for each executive, which will be:
$665,000 for Mr. David Sandler, the Company's President and Chief Executive
Officer; $230,000 for Mr. Charles Boehlke, the Company's Chief Financial
Officer; and $155,000 for each of Mr. Thomas Cox and Mr. Douglas Jones, who are
named executive officers. Actual payout amounts will be based on
achievement of the Discretionary Component and the Performance Component, with a
maximum payout of 150% of target. Under the plan, the Compensation
Committee exercises discretion to adjust GAAP earnings per share to account for
non-recurring and other similar items. In addition, under the plan,
the Compensation Committee retains discretion to adjust bonus payouts below the
payout levels correlating to performance where it determines that circumstances
exist that had a negative effect on the Company but were not reflected in
earnings per share performance.