Performance is less than the net sales performance goal, such that no bonus will be paid under the STIP with respect to the net sales Award Component if our fiscal year 2017 operating income is $6 million or more less than the target amount. Less than the net sales performance goal, the Adjustment Factor for that Award Component will be 1 minus 16.66 2⁄ 3 % for each $1 million by which actual
MTTY_VER_1.42.ZIP PLUS
If our fiscal year 2017 net sales exceed the net sales performance goal, the Adjustment Factor for that Award Component will be 1 plus 16.66 2⁄ 3 % for each $1 million by which actual performance exceeds the performance goal, up to a maximum bonus of up to 250% of the target bonus allocated to that Award Component. Minus 10% for each 1% by which actual performance is less than the operating income performance goal, such that no bonus will be paid under the STIP with respect to the operating income Award Component if our fiscal year 2017 operating income is 90% If our fiscal year 2017 operating income is less than the operating income performance goal, the Adjustment Factor for that Award Component will be 1 Goal, up to a maximum bonus of 250% of the target bonus amount allocated to that Award Component. If our fiscal year 2017 operating income exceeds the operating income performance goal, the Adjustment Factor for that Award Component will be 1 plus 10% for each 1% by which actual performance exceeds the performance
The Award Components related toįiscal year 2017 operating income and net sales will be independently adjusted by an ∺djustment Factor as follows: The total award earned by a participant for fiscal year 2017 will be equal to the sum of the separate Award Components determined for each performance goal. Performance goal (each, an ∺ward Component). Performance with respect to each specific performance goal will be calculated independently to determine the amount of the award for each The amounts payable under the STIP for fiscal year 2017 to each of the participants is based on theĪchievement of corporate performance goals as follows:ĥ5% is tied to our fiscal year 2017 operating income Ĥ0% is tied to our fiscal year 2017 net sales andĥ% is tied to our fiscal year 2017 Economic Value Added, or EVA, which we define as our Net Operating Profit after Taxes, minus the product of our Capital multiplied by our Cost of Capital. O∬onnell, our Senior Vice President and Chief Financial Officer, and Michael Morawetz, our Vice President International Branches. President and Chief Executive Officer, Joseph P. Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))ĭEPARTURE OF DIRECTORS OR CERTAIN OFFICERS ELECTION OF DIRECTORS APPOINTMENT OF CERTAIN OFFICERS COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.Ĭompensation Committee of our Board of Directors established performance criteria and goals for, and target amounts payable under, our Senior Executive Short-Term Incentive Plan (the STIP) for fiscal year 2017, for Gregory A. Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) If the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. Name or former address, if changed since last report.)
MTTY_VER_1.42.ZIP CODE
Registrants telephone number, including area code (Address of principal executive offices) (Zip Code) Name of registrant as specified in its charter) Date of report (Date of earliest event reported): March 14, 2016
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