Attached files
file | filename |
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8-K - 8-K - Advance America, Cash Advance Centers, Inc. | a11-6185_28k.htm |
EX-10.2 - EX-10.2 - Advance America, Cash Advance Centers, Inc. | a11-6185_2ex10d2.htm |
EX-10.3 - EX-10.3 - Advance America, Cash Advance Centers, Inc. | a11-6185_2ex10d3.htm |
Exhibit 10.1
Description of 2011 Cash Bonus Arrangements for Named Executive Officers
· Each named executive may receive a cash bonus for 2011 based on a percentage of that executives base salary as in effect at the time of the determination of the bonus.
· One half of the bonus percentage will be determined by the Companys overall financial performance, as measured by the Companys fully diluted earnings per share for fiscal year 2011.
· One half of the bonus percentage will be determined by the executives individual performance, as measured by factors the Compensation Committee may deem appropriate.
· The aggregate target bonus for our chief executive officer will be 100% of his base salary.
· The aggregate maximum bonus for our chief executive officer will be 200% of his base salary.
· The aggregate target bonus for our chief financial officer will be 65% of his base salary.
· The aggregate maximum bonus for our chief financial officer will be 130% of his base salary.
· The overall maximum bonus percentages also may be increased or reduced based on the Companys financial performance.