EX-10.(I)(2)
from 10-K405
1 page
Luria's Board of Directors Meeting January 26, 1995 Corporate Officer Bonus Program - Fiscal Year 1996 the Following Is the Corporate Officers' Bonus Program for Fiscal Year 1996. the Objective of the Program Is to Incentivise Key Executives to Perform Beyond Their Current Capabilities to Achieve Above Anticipated Corporate Earnings Results. This Is a Test Plan for One Year Only. 1. Eligibility - All Corporate Officers, Excluding the Chairman and President. Must Be Employed From March 15, 1995 Through Time of Payout; April 30, 1996. 2. Period Covered - Fiscal Year Ending January, 1996. 3. Performance Criteria Audited Earnings Level Performance Officers' Bonus(1) I Plan + 15% 10% II Plan + 25% 15% III Plan + 50% 25% IV Plan + 100% 50% (1) Based on Actual Salary Earned During Fiscal Year 1996. 4. Cost Benefit Relationship of Program Pre-Tax Earnings(2) Level Plan Incremental Bonus Costs I $3,323,000 $495,000 $120,000 II $3,323,000 $830,000 $180,000 III $3,323,000 $1,660,000 $300,000 IV $3,323,000 $3,320,000 $600,000 (2) Based on Operations of the Company Excluding Extraordinary or Unusual Charges or Credits. 5. All Officer Bonus Computations Shall Be Computed Before Giving Effect to the Bonus Earned by Officers and the President, and After the Computation of Other Management Bonuses. 6. Separate Bonus Programs Are in Place for Department and Store Management, and Buyers and Assistant Buyers
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