Attached files
| file | filename |
|---|---|
| EX-10.1 - EX-10.1 - Commercial Vehicle Group, Inc. | c56933exv10w1.htm |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): March 8, 2010
Commercial Vehicle Group, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-34365 | 41-1990662 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
| 7800 Walton Parkway, New Albany, Ohio | 43054 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code: 614-289-5360
Not Applicable
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On March 8, 2010, the Compensation Committee of the Board of Directors of Commercial Vehicle Group,
Inc. (the “Company”) approved the Commercial Vehicle Group, Inc. 2010 Bonus Plan (the “2010 Bonus
Plan”). Each executive officer is eligible to participate in the 2010 Bonus Plan. The 2010 Bonus
Plan includes both a “Company Factor” and an “Individual Factor.” The “Company Factor” component
represents 70% of the incentive payment opportunity and is tied to the Company’s achievement of
EBITDA. The “Individual Factor” represents 30% of the incentive payment opportunity and is tied to
strategic, operating and cost initiatives specific to the executive’s job scope. The “Company
Factor” will be applied independently to 70% of the total annual incentive opportunity and the
“Individual Factor” will be applied independently to 30% of the total annual incentive opportunity.
The target incentive bonus opportunity under the 2010 Bonus Plan for Mervin Dunn was set at 75% of
his base salary. The target incentive bonus opportunity for Chad M. Utrup, Gerald L. Armstrong and
Kevin R.S. Frailey was set at 50% of their respective base salaries. The target incentive bonus
opportunity for W. Gordon Boyd was set at 20% of his base salary.
A copy of the Bonus Plan is filed herewith as Exhibit 10.1 and is incorporated by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
10.1 Commercial Vehicle Group, Inc. 2010 Bonus Plan
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Commercial Vehicle Group, Inc. |
||||
| March 11, 2010 | By: | /s/ Chad M. Utrup | ||
| Name: | Chad M. Utrup | |||
| Title: | Chief Financial Officer | |||
Exhibit Index
| Exhibit No. | Description | |
10.1
|
Commercial Vehicle Group, Inc. 2010 Bonus Plan |