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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
|
Fiscal
year.
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Performance
Measures
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Division
funding based 100% on division Brunswick Value Added (BVA). BVA
defined as
profits after-tax; reduced for cost of total capital.
Funding
for participants at headquarters is based 40% on Earnings Per Share,
60%
on overall BVA.
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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
|
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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Claw
Back
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The
Human Resources and Compensation Committee will evaluate the facts
and
circumstances of any restatement of earnings due to fraud or intentional
misconduct that results in material noncompliance with any financial
reporting requirement and, in its sole discretion, may require
the
repayment of all or a portion of bonus awards from individual(s)
responsible for the restatement and others assigned to salary grade
21 and
above, including senior executives, as deemed appropriate by the
Committee.
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