SHOR » Topics » Additional Employee Benefit Plans

This excerpt taken from the SHOR DEF 14A filed Oct 22, 2007.
Additional Employee Benefit Plans
 
Executive Bonus Plan
 
In October 2006, our Board of Directors approved a bonus plan for fiscal 2007. The plan specified a bonus target for our chief executive officer equal to 75% of his base salary, and 45% of base salary for other executive officers. The bonus criteria consist of: (1) company targets, which consist of 50% weighting for revenue, 25% weighting for profitability and 25% weighting for overall customer satisfaction, (2) individual targets established by


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our chief executive officer for the particular employee, and (3) a multiplier ranging from 0 to 1.5 based on the executive’s overall performance rating. The actual bonus award is determined according to our company’s and each executive officer’s level of achievement against these performance objectives. If the company objectives are within a specified range, from 50% to 150% of the particular target could be payable. Messrs. Combs, Healy, Finegan, Rump, Weisner, and Vitalone earned bonuses equal to $272,172, $0, $104,000, $130,000, $100,000, and $54,000 respectively, under the bonus plan for fiscal 2007 as a result of having achieved, and in some cases exceeded, the bonus targets specified for fiscal 2007. These bonuses were paid in March 2007 and September 2007 (except for the first half-year bonus to Mr. Combs, which was paid in June 2007). Mr. Healy joined the company in May 2007 and received a sign-on bonus of $30,000. Mr. Vitalone also received sales commissions of $53,400 in fiscal 2007 in addition to his bonus described above.
 
401(k) Plan
 
We offer a 401(k) plan to all employees who meet specified eligibility requirements. The plan provides for voluntary tax deferred contributions of 1 to 20% of gross compensation subject to certain IRS limitations. Based on approval by our Board of Directors, we may make matching contributions to the plan. No matching contributions had been made as of September 30, 2007.
 
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