Attached files
| file | filename |
|---|---|
| EX-32 - ROCKY BRANDS, INC. | v175806_ex32.htm |
| EX-23 - ROCKY BRANDS, INC. | v175806_ex23.htm |
| EX-24 - ROCKY BRANDS, INC. | v175806_ex24.htm |
| EX-99.3 - ROCKY BRANDS, INC. | v175806_ex99-3.htm |
| EX-31.1 - ROCKY BRANDS, INC. | v175806_ex31-1.htm |
| EX-99.1 - ROCKY BRANDS, INC. | v175806_ex99-1.htm |
| EX-31.2 - ROCKY BRANDS, INC. | v175806_ex31-2.htm |
| 10-K - ROCKY BRANDS, INC. | v175806_10k.htm |
Exhibit
10.27
Description
of the Material Terms of Rocky Brands, Inc.’s
Bonus Plan for the Fiscal
Year Ending December 31, 2010
Messrs. Brooks, Sharp and McDonald are
eligible to receive cash bonuses under the Company’s Bonus Plan for the fiscal
year ending December 31, 2010 (the “2010 Bonus Plan”).
The 2010
Bonus Plan utilizes a performance criteria based on the previous five years
EBITDA before bonuses, less capital expenditures but excluding the highest and
lowest of the five years (“Adjusted EBITDA”). The threshold amount
for earning bonuses is 85% of the Adjusted EBITDA; provided however that the
threshold amount must not be less than is necessary to cover all financial
covenants and debt obligations (the “Threshold Amount”). Next, 30% of
the Adjusted EBITDA above the Threshold Amount, will go into a bonus pool to be
allocated among all participants (the “Bonus Pool”). The Bonus Pool
will then be allocated among all participants based on the relative base
compensation of each participant times an assigned base compensation multiplier
(the “Multiplier Salary”), which product for each participant would then be
compared to and calculated as a percentage of the total of the Multiplier Salary
for all participants in the Bonus Plan.
Each
participant in the 2010 Bonus Plan is assigned a multiplier of base salary
ranging from 4.50 to 0.75 times base salary, and each participant will be
allocated a percentage of the Bonus Pool by calculating the participant’s
Multiplier Salary as a percentage of the Multiplier Salary for all participants
in the 2010 Bonus Plan. It is recognized that the percentages could
change depending on changes in the participants during 2010, but the total will
always be 100%.
The
multipliers of base salary for Messrs. Brooks, Sharp and McDonald are 4.50, 3.75
and 3.00, respectively.