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Purpose
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Reward
achievement of annual goals
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Eligibility
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Key
managers and above identified on an individual basis.
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Performance
Period
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Fiscal
year.
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Performance
Measures
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Division
funding based 75% on division Brunswick Value Added (BVA)
and 25% on
division Operating Margin (OM). BVA defined as profits
after-tax; reduced
for cost of total capital.
Funding
for participants at headquarters is based 40% on Earnings
Per Share, 40%
on overall BVA and 20% on revenue growth.
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Funding
Review and Approval
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The
following steps will be taken to review and approve funding:
§ CFO
will review actual results quarterly to evaluate established
accruals.
§ CEO
will review performance at end of performance period
and recommend funding
to Human Resource and Compensation Committee as appropriate.
§ Committee
will review and approve funding as deemed appropriate.
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Individual
Awards
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Individual
awards will be determined on a discretionary basis using
overall approved
funding, evaluation of individual performance for the
performance period,
target incentives as a percent of salary and covered
salary (actual paid
for year).
Individuals
must be employed at end of performance period to receive
an award, except
those terminating due to death or permanent and total
disability will be
eligible to receive individual awards.
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Timing
of Award Payments
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As
soon as practical after financial results are confirmed
and appropriate
approvals are obtained.
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