**Exhibit10.22**
| **FY’2007 Executive Incentive Plan** |  |
|-------------------------------------------|--|

 

**2007Executive Incentive Plan**
| ***  ***

  |
|----------------------------|

 
| Table of Contents                                     | ** **   | ** **   |
|-------------------------------------------------------|--------------|--------------|
| **INTRODUCTION AND PRINCIPLES**                       | ** **   | ** **   |
| *PLAN PARTICIPATION*                                  | * *     | * *     |
| *EFFECTIVE DATE*                                      | * *     | * *     |
| * *                                              | * *     | * *     |
| **PLAN DESIGN / MEASURES, & OBJECTIVES**          | ** **   | ** **   |
| *PLAN MIX*                                            | * *     | * *     |
| *TARGET INCENTIVE BONUS*                              | * *     | * *     |
| *PAY-OUT CALCULATION FOR CASH INCENTIVES*             | * *     | * *     |
| *BASIS OF MEASURES AND PAYOUT SCHEDULE*               | * *     | * *     |
| *OPERATIONS OFFICERS*                                 | * *     | * *     |
| *STAFF OFFICERS*                                      | * *     | * *     |
| * *                                              | * *     | * *     |
| **CALCULATION OF BONUS PAYMENTS**                     | ** **   | ** **   |
| *GENERAL RULES*                                       | * *     | * *     |
| *CASH ADVANCES*                                       | * *     | * *     |
| *INCOME TAX*                                          | * *     | * *     |
| * *                                              | * *     | * *     |
| **TRANSFERS/NEW HIRES/TERMINATIONS**                  | ** **   | ** **   |
| *TRANSFERS*                                           | * *     | * *     |
| *NEW HIRES*                                           | * *     | * *     |
| *TERMINATIONS*                                        | *** *** | *** *** |
| *EXCEPTIONS TO THE PLAN*                              | * *     | * *     |
| * *                                              | * *     | * *     |
| **OTHER TERMS**                                       | ** **   | ** **   |
| *ACQUISITIONS AND OTHER UNUSUAL BUSINESS  SITUATIONS* | * *     | * *     |
| *BUSINESS UNIT REVENUE/PROFIT/EXPENSES*               | * *     | * *     |
| *COMPANY RIGHTS*                                      | * *     | * *     |

 

 

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| **Section A** | **Introduction and Principles**                                                                                                                                                                                                                                                                                                                            |   |
|---------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|          | The FY’07 **Executive Incentive Plan  (EIP)** provides an opportunity for executives of Cintas to share in  the company’s success. Year-end bonus awards are paid if performance measures  are met or exceeded.                                                                                                                                  |   |
|          |                                                                                                                                                                                                                                                                                                                                                       |   |
|          | Please note that the **EIP**  is not just an individual incentive plan but rather, the recognition of both  individual and organizational success.                                                                                                                                                                                                         |   |
|          |                                                                                                                                                                                                                                                                                                                                                       |   |
|          | Every executive will have at least 50% of their  targeted incentive bonus based on the relevant Corporate measure (profit as a  % of sales, % of revenue growth or EPS growth). As such, we all “succeed or  fail as **One Team****”.**                                                                                                          |   |
|          |                                                                                                                                                                                                                                                                                                                                                       |   |
|               | ***Plan Participation***                                                                                                                                                                                                                                                                                                                                   |
|          | This plan applies to all Cintas Officers.                                                                                                                                                                                                                                                                                                                  |
|          |                                                                                                                                                                                                                                                                                                                                                       |
|               | ***Effective Date***                                                                                                                                                                                                                                                                                                                                       |   |
|          | This Plan year is effective from June 1, 2006 until  the end of our fiscal year, May 31, 2007 and it supersedes all prior **EIP** or officer compensation plans. Cintas reserves the  right to amend and/or adjust this plan based on the strategic needs of our  business. Communication to our participating partners will be made in a  timely fashion. |   |
|               |                                                                                                                                                                                                                                                                                                                                                            |        |  |

 
| **Section B** | **Plan Design / Measures, & Objectives**                                                                                                                                                                                                                                                                                                                                               |
|---------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |                                                                                                                                                                                                                                                                                                                                                                                       |
|          | ***Plan Mix***                                                                                                                                                                                                                                                                                                                                                                             |
|          | Each participating officer will share in the success  of Cintas based on three (3) different compensation vehicles; base salary,  incentive cash bonuses, and long term incentives (i.e. restricted stock and  stock options).                                                                                                                                                             |
|          |                                                                                                                                                                                                                                                                                                                                                                                       |
|          | ***Operations  Officers****** ***will be eligible for cash and  long-term incentives (LTI) tied to Profit as a% of Sales and percent of  Revenue Growth, and Cintas Earnings per Share (EPS) Growth.                                                                                                                                                                                  |
|          |                                                                                                                                                                                                                                                                                                                                                                                       |
|          | ***Staff Officers ***will be eligible for  cash and long-term incentives (LTI) tied to Cintas EPS Growth, and Individual  Goals.                                                                                                                                                                                                                                                      |
|          |                                                                                                                                                                                                                                                                                                                                                                                       |
|          | ***All Officers* **covered  by the FY’07 EIP, could earn 0% up to a maximum of 200% of the cash bonus  award depending on their overall performance against their cash incentive  bonus objectives. Additionally, depending on the results of the LTI objectives,  an officer could earn 0% LTI up to a maximum of 200% of the LTI award if the  performance target is achieved. |
|          | *** ***                                                                                                                                                                                                                                                                                                                                                                               |
| ** **    | ***Target Incentive Bonus*****                                                                                                                                                                                                                                                                                                                                                             |
| ** **    | The “target incentive bonus” is the total cash  incentive amount earned at the target objectives. “Total Targeted Cash” (TTC)  represents an individual’s base salary plus targeted cash incentives.                                                                                                                                                              |
| ** **    |                                                                                                                                                                                                                                                                                                                                                                                       |
|          | ***Pay-Out Calculation for Cash  Incentives*****                                                                                                                                                                                                                                                                                                                                           |
|          | To receive a cash incentive bonus, the partner must  perform at the “threshold” level (or above). The actual amount of the cash  bonus will be calculated based upon the actual performance against the  objectives. In the event that the actual result is between two performance  levels, the actual amount will be calculated.                                               |
|          |                                                                                                                                                                                                                                                                                                                                                                                       |
|          | ***Basis of Measures & Payout  Schedule***                                                                                                                                                                                                                                                                                                                                             |
|          | The following charts describe the Basis of Measures,  Objectives, and Payout Schedules for Corporate Staff and Division Officers  annual cash bonus and LTI Awards.                                                                                                                                                                                                                        |

 

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## ***Operations Officers***

** **

**Cash Incentive Bonus**

 

**Business Unit Profit as a % of Sales**

 
| **Weighting** | ** ** | **Level of Achievement** | ** ** | **Bonus Payout %** | ** ** |
|---------------|------------|------------------------------------|------------|------------------------------|------------|
| 50%           |       | Below Threshold                    |       | 0                            | %          |
|          |       | Threshold                          |       | 50                           | %          |
|          |       | Target                             |       | 100                          | %          |
|          |       | Maximum                            |       | 200                          | %          |

 

**Business Unit Percent of Revenue Growth**

 
| **Weighting** | ** ** | **Level of Achievement** | ** ** | **Bonus Payout %** | ** ** |
|---------------|------------|------------------------------------|------------|------------------------------|------------|
| 50%           |       | Below Threshold                    |       | 0                            | %          |
|          |       | Threshold                          |       | 50                           | %          |
|          |       | Target                             |       | 100                          | %          |
|          |       | Maximum                            |       | 200                          | %          |

 

**LTI Award**

**Operational Goals (Combination of Revenue Growth %Plus Profit %) — Rule 35 Calculation**
| **Weighting** | ** ** | **Level of Achievement** | ** ** | **LTI Award %**                                                         | ** ** |   |
|---------------|------------|------------------------------------|------------|-----------------------------------------------------------------------------------|------------|--------|
| 50%           |       | Below  Threshold                   |       | 0%                                                                                |       |
|          |       | Threshold  to Target               |       | 50% of target  and then predetermined levels based on hitting performance targets |       |
|          |       | Target                             |       | 100%                                                                              |       |
|          |       | Target  to Maximum                 |       | Predetermined  levels based on hitting performance targets                        |       |
|          |       | Maximum                            |       | 200%                                                                              |       |
|               |            |                                    |            |                                                                                   |            |        |  |  |  |

 

**Cintas EPS**
| **Weighting** | ** ** | **Level of Achievement** | ** ** | **LTI Award %**                                                             | ** ** |   |
|---------------|------------|------------------------------------|------------|---------------------------------------------------------------------------------------|------------|--------|
| 50%           |       | Below  Threshold                   |       | 0%                                                                                    |       |
|          |       | Threshold  to Target               |       | 50% of target  and then predetermined levels based on hitting EPS performance targets |       |
|          |       | Target                             |       | 100%                                                                                  |       |
|          |       | Target  to Maximum                 |       | Predetermined  levels based on hitting EPS performance targets                        |       |
|          |       | Maximum                            |       | 200%                                                                                  |       |
|               |            |                                    |            |                                                                                       |            |        |  |  |  |

*** ***

***StaffOfficers***

**Cash Incentive Bonus**

**Individual Goals**
| **Weighting** | ** ** | **Level of Achievement** | ** ** | **Bonus Payout %** | ** ** |
|---------------|------------|------------------------------------|------------|------------------------------|------------|
| 50%           |       | Does Not Meet Goals                |       | 0                            | %          |
|          |       | Meets Most Goals                   |       | 50                           | %          |
|          |       | Meets Goals                        |       | 100                          | %          |
|          |       | Exceeds Goals                      |       | 150                          | %          |
|          |       | Outstanding Achievement            |       | 200                          | %          |

 

**Cintas EPS**

 
| **Weighting** | ** ** | **Level of Achievement** | ** ** | **Bonus Payout %** | ** ** |
|---------------|------------|------------------------------------|------------|------------------------------|------------|
| 50%           |       | Below Threshold                    |       | 0                            | %          |
|          |       | Threshold                          |       | 50                           | %          |
|          |       | Target                             |       | 100                          | %          |
|          |       | Maximum                            |       | 200                          | %          |

 

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**LTI Award**

**Individual Goals**
| **Weighting** | ** ** | **Level of Achievement** | ** ** | **LTI Award %**                                               | ** ** |
|---------------|------------|------------------------------------|------------|-------------------------------------------------------------------------|------------|
| 50%           |       | Does Not Meet                      |       | 0%                                                                      |       |
|          |       | Meets Most Goals                   |       | 50% and then  predetermined levels based on hitting performance targets |       |
|          |       | Meets Goals                        |       | 100%                                                                    |       |
|          |       | Exceeds Goals                      |       | Predetermined levels  based on hitting performance targets              |       |
|          |       | Outstanding Achievement            |       | 200%                                                                    |       |

 

**Cintas EPS**

** **
| **Weighting** | ** ** | **Level of Achievement** | ** ** | **LTI Award %**                                                   | ** ** |
|---------------|------------|------------------------------------|------------|-----------------------------------------------------------------------------|------------|
| 50%           |       | Below  Threshold                   |       | 0%                                                                          |       |
|          |       | Threshold  to Target               |       | 50% and then  predetermined levels based on hitting EPS performance targets |       |
|          |       | Target                             |       | 100%                                                                        |       |
|          |       | Target  to Maximum                 |       | Predetermined  levels based on hitting EPS performance targets              |       |
|          |       | Maximum                            |       | 200%                                                                        |       |

 
| **Section C** | **Calculation of Bonus Payments**                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|          | ***General Rules***                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|          | Bonus calculations will be made using actual  results, subject to adjustment at the discretion of the CEO to exclude items  that are not operational and therefore do not reflect the year’s performance  against objectives, such as accounting principle changes or revenue from an  acquisition that was not in the business plan. (See Section E for more  detail).                                                                                |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|          | In addition, any automatic payroll deductions  elected by the partners (e.g. 401K, or company loan repayments as the CEO  deems necessary, etc) will be deducted from their bonus.                                                                                                                                                                                                                                                                          |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|          | In the unlikely event the Partner receives an  overpayment of their award they are responsible for reimbursing Cintas the  amount of the overpayment.                                                                                                                                                                                                                                                                                                       |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|          | ***Cash Advances***                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|          | No cash advances will be paid against EIP awards.                                                                                                                                                                                                                                                                                                                                                                                                           |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|          | ***Income Tax***                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|          | Cash payments are treated as ordinary income, or  according to local legislation, and are subject to withholding for all  applicable taxes.                                                                                                                                                                                                                                                                                                                 |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| **Section D** | **Transfers/New Hires/Terminations**                                                                                                                                                                                                                                                                                                                                                                                                                        |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|          | ***Transfers***                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|          | The partner’s Comp Plan will be changed to properly  incentivise the partner for their new responsibility, at the discretion of  the CEO. Any final award calculation will be calculated by taking into  account the time spent under each plan. of Human Resources. Any bonus will be  paid on the normal payment cycle on the designated pay date.                                                                                                   |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|          | If a partner is transferred from another incentive  program or non-**EIP**-eligible position to an **EIP**-eligible role, or vice versa, the partner will be  aligned to the appropriate measures for the months spent in the eligible  position.In the case of a performance based demotion to a non-eligible  position, any bonus earned up to the date of demotion will be payable at the  discretion of the Officer in charge with approval from the VP |

 

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|               | ***New Hires***                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|---------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          | **EIP** eligible Officers hired  during the year may receive a pro-rated award or may be given a special plan  for the remainder of the fiscal year as determined by the CEO.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|          | ** **                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|          | ***Terminations***                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|          | The Company will pay the partner a pro rata share of  the bonus earned from the beginning of the fiscal year until the point of the  employee’s termination in the event that the employee retires, or their  position is eliminated. If the partner is terminated because of poor  performance, any bonus to be paid will be determined at the sole discretion  of the Company, using its best judgment, taking all factors into consideration  so as to be fair to both the partner and the Company. In the event that the  partner leaves the Company during the year for any reason, or in the event  the partner is terminated because of dishonesty, insubordination, or gross neglect,  etc., the partner shall not be entitled to any of the bonus earned up to the  point of termination. |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|          | ***Exceptions to the plan***                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|          | In general, no exceptions are made to the plan. If  special circumstances cause the Annual Bonus or LTI alignment to be unfair to  a particular individual or the Company, an exception request must be approved  by the CEO who may approve the request at his discretion.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| **Section E** | **Other Terms**                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
| ** **    | ***Acquisitions and Other Unusual  Business Situations***                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|          | The purpose of the Incentive Plan is to reward  individuals for normal operating profits earned within their area of  responsibility. Any incidences that abnormally inflate the profits of an  operation such as the purchase or the sale of rental volume, the unusual sale  of operating assets, or any other abnormal operational situation that causes  the profits of the individual operation to abnormally increase, the Plan  shall be adjusted so as to avoid any inequitable results to the partner or  the Company.                                                                                                                                                                                                                                                                         |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|          | ***Business Unit Revenue/Profit/Expenses***                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|          | All financial numbers related to business  unit/Cintas performance will be determined by the Cintas Accounting  Department with the approval of our CFO and CEO. In cases of dispute, the  Cintas Accounting Department figures will govern performance as it relates to  calculating all bonus plan payouts.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|          | ***Company Rights***                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|          | Even though it is the  intention of the Company to continue this Plan on an ongoing basis, the Company  does reserve the right to alter the program as it sees fit, from year to  year.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |

 

 

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