Attached files
file | filename |
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EX-32.2 - EX-32.2 - Teavana Holdings Inc | d367136dex322.htm |
EX-10.1 - EX-10.1 - Teavana Holdings Inc | d367136dex101.htm |
EX-31.1 - EX-31.1 - Teavana Holdings Inc | d367136dex311.htm |
EX-31.2 - EX-31.2 - Teavana Holdings Inc | d367136dex312.htm |
EX-32.1 - EX-32.1 - Teavana Holdings Inc | d367136dex321.htm |
EXCEL - IDEA: XBRL DOCUMENT - Teavana Holdings Inc | Financial_Report.xls |
10-Q - FORM 10-Q - Teavana Holdings Inc | d367136d10q.htm |
Exhibit 10.2
Summary:
In order to further incentivize the executive officers and certain other employees to achieve a successful integration of the Teaopia Acquisition, in August 2012, the Compensation Committee and Board adopted the following Teaopia Budget 2012 Incentive Plan (the Teaopia Plan). The Teaopia Plan contemplates a bonus that consists of the sum of two components. The first component of the Teaopia Plan provides a bonus equal to 2.0%, 4.0% or 6.0% of each executive officers base salary if 100%, 110% or 120%, respectively, of certain Teaopia gross profit targets are achieved in the fourth quarter of fiscal 2012. The second component of the Teaopia plan provides a bonus 2.0%, 4.0% or 6.0% of each executive officers base salary if 100%, 110% or 120%, respectively, of certain Teaopia EBITDA targets are achieved during fiscal 2012. For each component, there is a 0.2% increase in bonus as a percentage of the officers base salary for every 1% increase in realization of the relevant target measure above 120%.
TEA
Teaopia budget 2012: incentive plan
CEO/EVP/VP Plan:
Fourth Quarter Targets |
|
Fiscal Year Targets | ||||||||||||||
% of Teaopia Plan Gross Profit |
Bonus as a % of base salary: |
% of Teaopia Plan EBITDA | Bonus as a % of base salary: |
|||||||||||||
100 | % | 2.0 | % | 100 | % | 2.0 | % | |||||||||
110 | % | 4.0 | % | 110 | % | 4.0 | % | |||||||||
120 | % | 6.0 | % | 120 | % | 6.0 | % | |||||||||
>120 | % |
|
6.0% + 0.2% for every additional 1.0% increase above plan |
|
>120 | % |
|
6.0% + 0.2% for every additional 1.0% increase above plan |
|
Note: bonus is paid pro-rata for performance between tiers. Percentage of base bonus payout is calculated on annual salary basis.
Director/Manager Plan:
Same as above, except bonus % is divided by 4, representing one quarter the payout as a % of base of the VP plan