MOLX » Topics » Cash Merit Bonus (payable August 2006)

This excerpt taken from the MOLX 8-K filed Aug 1, 2006.

Cash Merit Bonus (payable August 2006)

Frederick A. Krehbiel

Co-Chairman

$450,000

$343,935

John H. Krehbiel, Jr.

Co-Chairman

$450,000

$343,935

Martin P. Slark

Vice Chairman and Chief Executive Officer

$850,000

$617,775

Liam G. McCarthy

President and Chief Operating Officer

$550,000

$432,443

Robert B. Mahoney

Executive Vice President and Regional President, Far East South

$561,350

$338,106


Establishment of Cash Merit Bonus Targets


On July 27, 2006, the Committee also approved cash merit bonus targets for the period July 1, 2007 to June 30, 2006 (“FY07”), for the Named Executive Officers.  The cash merit bonus plan covers all executive officers and provides that a cash merit bonus will be paid upon the achievement of two metrics: a profit-before-tax goal (“PBT”) and performance against individual goals.  Under the plan, the Committee determines the target bonus opportunity for each executive officer based on the achievement of minimum, target and maximum performance goals.  The PBT metric is not discretionary, but the individual goal metric is discretionary based on the Committee’s evaluation of the Named Executive Officer’s performance.  


The following table sets forth the FY07 bonus opportunities for the Named Executive Officers under the cash merit bonus plan.



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