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Exhibit
10.1
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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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Funding
based 100% on level of corporate-wide operating cash on hand as of the end
of the performance period.
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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.
§ Human
Resources and Compensation 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 the end of the 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
and Form of
Award
Payments
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In
2010 after financial results are confirmed and appropriate approvals are
obtained. Payment may be made in cash, shares of Brunswick
common stock, or in a combination of cash or stock, as determined by the
Committee.
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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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Additional
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Nothing
contained in these materials constitutes or is intended to create a
promise of an individual incentive award or a contract of continued
employment. Employment is
at-will and may be terminated by either the employee or Corporation for
any reason at any time.
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