Attached files
file | filename |
---|---|
10-K - FORM 10-K - HESKA CORP | c13748e10vk.htm |
EX-3.I - EXHIBIT 3(I) - HESKA CORP | c13748exv3wi.htm |
EX-10.9 - EXHIBIT 10.9 - HESKA CORP | c13748exv10w9.htm |
EX-21.1 - EXHIBIT 21.1 - HESKA CORP | c13748exv21w1.htm |
EX-10.1 - EXHIBIT 10.1 - HESKA CORP | c13748exv10w1.htm |
EX-32.1 - EXHIBIT 32.1 - HESKA CORP | c13748exv32w1.htm |
EX-23.1 - EXHIBIT 23.1 - HESKA CORP | c13748exv23w1.htm |
EX-31.2 - EXHIBIT 31.2 - HESKA CORP | c13748exv31w2.htm |
EX-3.II - EXHIBIT 3(II) - HESKA CORP | c13748exv3wii.htm |
EX-31.1 - EXHIBIT 31.1 - HESKA CORP | c13748exv31w1.htm |
EX-3.III - EXHIBIT 3(III) - HESKA CORP | c13748exv3wiii.htm |
EX-10.32 - EXHIBIT 10.32 - HESKA CORP | c13748exv10w32.htm |
EX-10.41 - EXHIBIT 10.41 - HESKA CORP | c13748exv10w41.htm |
Exhibit 10.8
Heska Corporation
2011 Management Incentive Plan
2011 Management Incentive Plan
1. | The Category Percentages for the 2011 MIP are as follows: |
Title | Heska MIP | |
Chief Executive Officer |
50.0% of base pay | |
President |
35.0% of base pay | |
Chief Financial Officer |
35.0% of base pay | |
Executive Vice Presidents |
35.0% of base pay | |
Vice Presidents |
35.0% of base pay | |
Managing Directors |
25.0% of base pay | |
Directors |
25.0% of base pay |
2. | The Plan Allocation for the 2011 MIP is as follows: | |
50% on overall achievement of the Financial Performance Metric (FPM) and 50% on Strategic Growth Initiatives (SGI). | ||
3. | The Key Parameters for the 2011 MIP are as follows: |
| Pre-MIP Operating Income 50% | ||
| Strategic Growth Initiative Milestone Achievement 50%, as defined below |
| Growth Initiative A |
| Milestone A: Execute contract by end of Q2 2011 |
| Growth Initiative B |
| Milestone B1: Execute contract by end of Q2 2011 | ||
| Milestone B2: Launch first product by end of Q3 2011 |
| Growth Initiative C |
| Milestone C1: Execute agreement by end of Q3 2011 | ||
| Milestone C2: Formalize alliance by end of Q3 2011 |
4. | The Payout Structure for the 2011 MIP is as follows: |
| For FPM of Pre-MIP Operating Income see the attached table | ||
| For SGI, achievement of milestones and Pre-MIP Operating Income of $1,500,000, see the attached table. Each milestone is worth 20% of the potential MIP payout for SGI |
| Payouts for each parameter will be calculated independent of the success or failure of the other parameter | ||
| Maximum MIP Payout for Proposed 2011 MIP for the financial metric parameter is paid at $5,562,500 of Pre-MIP Operating Income and 100% achievement of the five milestones for SGI | ||
| For example, 100% achievement of the SGI milestones and $1,300,000 of Pre-MIP Operating Income would pay no MIP for either category. Achievement of 60% of the SGI milestones and $3,177,072 of Pre-MIP Operating Income would pay MIP of $315,000 for SGI and $315,000 for FPM | ||
| Any MIP payment in excess of the Maximum MIP Payout shall be at the sole and absolute discretion of the Compensation Committee |
Heska Corporation
2011 MIP Payout Table
2011 MIP Payout Table
FPM | ||||||||||||||||||||
Operating | Operating | MIP | 50% FPM | |||||||||||||||||
Income | Income | Payout | MIP | SGI Payout | Total Payout | |||||||||||||||
Pre-MIP | Post-MIP | % | Amount | Amount* | Amount | |||||||||||||||
1,500,000 |
975,000 | 0 | % | | 525,000 | 525,000 | ||||||||||||||
1,779,512 |
1,202,012 | 10 | % | 52,500 | 525,000 | 577,500 | ||||||||||||||
2,059,024 |
1,429,024 | 20 | % | 105,000 | 525,000 | 630,000 | ||||||||||||||
2,338,536 |
1,656,036 | 30 | % | 157,500 | 525,000 | 682,500 | ||||||||||||||
2,618,048 |
1,883,048 | 40 | % | 210,000 | 525,000 | 735,000 | ||||||||||||||
2,897,560 |
2,110,060 | 50 | % | 262,500 | 525,000 | 787,500 | ||||||||||||||
3,177,072 |
2,337,072 | 60 | % | 315,000 | 525,000 | 840,000 | ||||||||||||||
3,456,584 |
2,564,084 | 70 | % | 367,500 | 525,000 | 892,500 | ||||||||||||||
3,736,096 |
2,791,096 | 80 | % | 420,000 | 525,000 | 945,000 | ||||||||||||||
4,015,608 |
3,018,108 | 90 | % | 472,500 | 525,000 | 997,500 | ||||||||||||||
4,295,125 |
3,245,125 | 100 | % | 525,000 | 525,000 | 1,050,000 | ||||||||||||||
4,548,600 |
3,446,100 | 110 | % | 577,500 | 525,000 | 1,102,500 | ||||||||||||||
4,802,075 |
3,647,075 | 120 | % | 630,000 | 525,000 | 1,155,000 | ||||||||||||||
5,055,550 |
3,848,050 | 130 | % | 682,500 | 525,000 | 1,207,500 | ||||||||||||||
5,309,025 |
4,049,025 | 140 | % | 735,000 | 525,000 | 1,260,000 | ||||||||||||||
5,562,500 |
4,250,000 | 150 | % | 787,500 | 525,000 | 1,312,500 | ||||||||||||||
5,562,500 |
+ | 4,250,000 | Capped |
* | Assumes 100% achievement of milestones. |