0-28000 | 58-2213805 | |
(Commission File Number) | (IRS Employer Identification No.) | |
600 Galleria Parkway, Suite 100, Atlanta, Georgia | 30339-5949 | |
(Address of Principal Executive Offices) | (Zip Code) |
| Bonuses under the 2007 bonus plan are based entirely on the Company achieving certain levels of consolidated adjusted EBITDA established by the Compensation Committee. | ||
| No bonuses will be paid under the 2007 bonus plan unless the Company achieves a pre-established adjusted EBITDA amount (the Bonus Threshold). | ||
| At the Bonus Threshold, the bonus payout under the plan will be 50% of the target bonus set forth in each participants employment agreement. | ||
| The target bonuses established in each participants employment agreement will be paid upon the Company meeting a second pre-established adjusted EBITDA amount that is higher than the Bonus Threshold. | ||
| Maximum bonuses, as set forth in each participants employment agreement, will be paid under the 2007 bonus plan if the Company achieves a third pre-established adjusted EBITDA amount that is higher than the second amount . | ||
| Bonus payouts under the 2007 plan will be increased pro-rata to the extent that consolidated adjusted EBITDA exceeds the minimum threshold for one bonus tier, but does not meet the minimum threshold for the next higher bonus tier. In no event, however, will plan participants receive a bonus that exceeds the maximum bonus set forth for the participants in their respective employment agreements. |
PRG-Schultz International, Inc. |
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By: | /s/ Victor A. Allums | |||
Victor A. Allums | ||||
Senior Vice President, Secretary and General Counsel |
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