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SEC Filings

8-K
GREENSKY, INC. filed this Form 8-K on 02/06/2019
Entire Document
 

 

4.             ELIGIBILITY

 

4.1          Establishing Participation.  Each member of the Senior Executive Group and each other Employee whose position in the Employer’s compensation structure entitles him or her to participate in the Plan shall participate in the Plan for the applicable Bonus Period.  The Committee shall retain the discretion to name as a Participant any member of the Senior Executive Group or otherwise-eligible Employee hired after the commencement of the Bonus Period and prior to October 1st of the Bonus Period.  Members of the Senior Executive Group and other Employees hired on or after October 1st of the Bonus Period shall not be eligible to participate in the Plan for that Bonus Period.  Any member of the Senior Executive Group or other Employee promoted during the Bonus Period may participate in the Plan in accordance with such Employee’s status for the relevant portion of the Bonus Period.

 

5.             AMOUNT OF BONUS AWARDS

 

5.1          Establishment of Bonuses.

 

(a)           Establishment of Maximum Bonus Awards.  The Committee shall establish, for each Participant, the Participant’s Maximum Bonus Award (in dollars) for the Bonus Period or the methodology for establishing such Maximum Bonus Award (in dollars).

 

(b)           Establishment of Preliminary Bonus Awards.  The Committee then shall establish, for each Participant, the Participant’s (i) Target Bonus Percentage, (ii) the Corporate Performance Objective(s) and level(s) of Corporate Performance Objectives that must be achieved to determine the Participant’s Preliminary Bonus Award, (iii) the Individual Performance Factor(s) and level(s) of Individual Performance Factor(s) that must be achieved to determine the Participant’s Preliminary Bonus Award, (iv) the Corporate Performance Bonus Multiplier that will apply to each Corporate Performance Objective and Individual Performance Factor or level of Corporate Performance Objective or Individual Performance Factor that will apply to determine the Participant’s Preliminary Bonus Award and (iv) the Aggregate Corporate Performance Bonus Multiplier that will apply to determine the Participant’s Preliminary Bonus Award for the Bonus Period.

 

(c)           Time and Manner of Establishment.  The Corporate Performance Objectives, the levels of Corporate Performance Objectives and, if applicable, the Individual Performance Factors and levels of Individual Performance Factors to be achieved must take into account and be calculated with respect to the full accrual and payment of the Bonus Awards to be paid under the Plan.  Each Participant’s (i) Target Bonus Percentage, (ii) Corporate Performance Objective(s) and level(s) of Corporate Performance Objective to be achieved, (iii) Individual Performance Factor(s) and level(s) of Individual Performance Factors to be achieved, (iv) Corporate Performance Bonus Multiplier that corresponds to each Corporate Performance Objective or Individual Performance Factor or level of Corporate Performance Objective or Individual Performance Factor to be achieved, and (v) Aggregate Corporate Performance Bonus Multiplier must be established by the Committee in writing; they must be uncertain of achievement at the time they are established; and the achievement of the Corporate Performance Objectives or levels of Corporate Bonus Objectives must be determinable by a third party with knowledge of the relevant facts.  The achievement of the Individual Performance Factors or levels of Individual Performance Factors may be subjective and determinable in the sole discretion of the Committee. The Corporate Performance Objectives and Individual Performance Factors the Committee may designate shall be any Corporate Performance Objectives or Individual Performance Factors the Committee may determine.  There may be separate levels of Corporate Performance Objectives and Individual Performance Factors whenever the Corporate Performance Objectives are based upon different organizational levels of GreenSky and its Affiliates and/or the Individual Performance Factors are based upon different levels of achievement by the Participant. The

 

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