Exhibit 10.13
|
|
FY 2011 AIP OVERVIEW 1 |
|
|
Designed to drive performance, ensure consistency and alignment and reinforce accountability Calculated based on a formula that weighs degree of achievement of financial goals against FY targets For FY 2011, all participants will be measured solely on the Corporate-wide measures of EBITDA and Change in Working Capital Days(change from prior years using division/region metrics) FY 2010 threshold and maximum performance levels changed from 90% - 110% to 75% - 125% Plan approved by C, D & R 2/11/2011 Slide 2 ANNUAL INCENTIVE PLAN |
|
|
2/11/2011 Slide 3 FY 2011 ANNUAL INCENTIVE PLAN Eligibility, target and alignment review in progress Little, if any, change of eligibility and targets for FY 2011 Metrics defined, goals and alignment in process Proposed Metrics & Weighting (Corporate AIP) EBITDA - 65% (target = $150M) Change in Working Capital Days 25% (target = 4 days) MBOs (Execution of Strategic Plan, Risk Mitigation and Leadership) - 10% Adjustments +25% and -100% based on individual performance |
|
|
2/11/2011 Slide 4 FY 2011 ANNUAL INCENTIVE PLAN Payout Curves < 75% Performance = 0% payout or discretionary payout 75% Performance = 50% payout 100% performance = target payout 125% performance = 200% payout (no cap discretionary provision) > 125% performance = 200% payout plus any discretionary payout Corporate EBITDA will act as a gate If 75% performance is not met, than no/reduced payout Other specific details of plan (payout procedures and eligibility/transfers/promotions, etc.) are currently in development All payouts subject to approval/adjustment by the Compensation Committee |
|
|
AIP Annual Incentive Plan targeted for employees with direct impact on Atkore results BOP Business Operating Plan target for lower level employees with direct impact on division/region results 2011 Eliminate BOP nomenclature. Standardize targets based on band and position for 2012 Total payout at target is approximately $6M 2/11/2011 Slide 5 OVERVIEW |
|
|
Slide 6 PAYOUTS AND CURVE AIP 1 pt. Performance = 2 pts. Pay 1 pt. Performance = 4 pts. Pay 0.0% 50.0% 100.0% 150.0% 200.0% 250.0% $103.1 $112.5 $121.9 $131.3 $140.6 $150.0 $159.4 $168.8 $178.1 $187.5 $196.9 Payout FY 2011 Proposed curve Target Minimum Maximum EBITDA 75% of target 125% of target Payout at discretion of Comp Committee for performance over 125% |
|
|
Slide 7 PAYOUT EXAMPLE I. Personal Data Name: John Doe AIP Metrics Weighting Threshhold Target Maximum Title: Controller 75% 100% 125% Base Salary: $150,000 EBITDA ($Ms) 65% $112.5 $150.0 $187.5 Target AIP %: 30% Change in WCD 25% 3 4 5 Personal 10% 1 5 10 II. Illustrative Payouts Metrics Threshhold Target Maximum Threshhold Target Maximum Threshhold Target Maximum A. EBITDA $112.5 $150.0 $187.5 50% 100% 200% 33% 65% 130% B. Change in WCD 3 4 5 50% 100% 200% 13% 25% 50% C. Personal Objectives 1 5 10 50% 100% 200% 5% 10% 20% Total Payout % 50% 100% 200% Total Payout $ $22,500 $45,000 $90,000 III. "Actual" Payout "Actual" Percent Metric Weighted Metrics Attainment Attainment Payout Payout A. EBITDA $143.3 96.0% 92.0% 59.8% B. Change in WCD 4.1 103.0% 112.0% 28.0% C. Personal Objectives 6 105.0% 120.0% 12.0% D. Total Percent Payout 99.8% E. Total AIP Payout $44,910 Metric Attainment Percentage Payout Weighted Payout |