Imperial Sugar – Imperial Sugar Company Summary Management Incentive Plan (December 9th, 2004)
The Company has adopted Management Incentive Plans for Fiscal 2004 and 2005 for executive officers and certain other participants. The plans provide for cash bonuses based on achievement of a combination of individual performance goals and corporate profitability targets. The corporate profitability targets involve a combination of EBITDA and EVA (Economic Value Added). EBITDA is defined as earnings before interest, taxes, depreciation and amortization. EVA is defined as EBITDA minus a charge for capital employed, calculated as 15% times average working capital and fixed assets. The achievement of individual performance goals and corporate profitability targets results in an incentive payment based on a participants bonus opportunity, which is set at a percentage of the participants base salary, ranging from 10% to 100% based on a participants responsibilities and position within the Company.
Imperial Sugar – Schedule of Change in Control Agreements (December 9th, 2004)
Imperial Sugar – Change of Control Agreement (September 10th, 2004)
THIS AGREEMENT (this Agreement), made and entered into as of the 10th day of September, 2004 by and between IMPERIAL SUGAR COMPANY, a Texas corporation, and Paul Durlacher (Executive), an individual residing in Carmel, Indiana;