Attached files
file | filename |
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8-K - FORM 8-K - iGo, Inc. | p18830e8vk.htm |
EX-10.1 - EX-10.1 - iGo, Inc. | p18830exv10w1.htm |
Exhibit 10.2
IGO, INC.
2011 EXECUTIVE BONUS PLAN
Summary
iGo, Inc.s Executive Bonus Plan (the Plan) is a discretionary cash incentive
program designed to motivate participants to achieve the companys financial and other performance
objectives and to reward them for their achievements when those objectives are met.
Eligibility
Participants are approved solely at the discretion of the Compensation and Human Resources
Committee of iGo, Inc.s Board of Directors (the Committee). No person is automatically
entitled to participate in the Plan in any year, and any eligible participant may choose not to
participate in the Plan in any year for any reason.
Administration
The Committee is ultimately responsible for administering the Plan. The Committee has all
powers and discretion necessary or appropriate to review and approve the Plan and its operation,
including, but not limited to, the power to (a) determine which eligible participants shall be
granted bonus awards, (b) prescribe the terms and conditions of bonus awards, (c) interpret the
Plan, (d) adopt rules for the administration, interpretation and application of the Plan as are
consistent therewith, and (e) interpret, amend or revoke any such rules. All determinations and
decisions made by the Committee and any delegate of the Committee shall be final, conclusive, and
binding on all persons, and shall be given the maximum deference permitted by law. The Committee,
in its sole discretion and on such terms and conditions as it may provide, may delegate all or part
of its authority and powers under the Plan to one or more directors, officers and/or managers of
the Company. The Committee, in its sole discretion, may amend or terminate the Plan, or any part
thereof, at any time and for any reason.
Award Determination
The Committee, in its sole discretion, will approve target bonuses for each participant.
Bonuses will be calculated using a formula that includes: (a) the executives salary, (b) the
executives target bonus, and (c) such other discretionary factors as the Committee determines
appropriate given the performance of the Company, and the participants contribution to the
Companys overall performance, including, without limitation, the growth and creation of increased
stockholder value through the efficient use of Company assets. Payment of any awards will be made
on or before March 15 of the year subsequent to the year in which such award was earned.
Award Payouts
Unless otherwise determined by the Committee, bonuses will be paid on an annual basis,
typically in February, and the bonus period is currently the fiscal year period.