<PAGE>   1
                                                                   EXHIBIT 10.9

                                                              February 18, 1997

                          SCOTSMAN INDUSTRIES, INC.

                1997 EXECUTIVE INCENTIVE COMPENSATION PROGRAM

                                  PLAN A-1

                           PARTICIPANT __________



1.      General

        (a)     This Plan for annual bonus, designed to provide increased
                incentive through additional compensation to selected key
                personnel, to be paid from profits to which such personnel
                have contributed by their services during the fiscal year, is
                declared effective for the bonus year ending December 31, 1997
                to continue in effect thereafter from year to year unless
                amended or discontinued as hereinafter provided.

        (b)     The Plan, as applicable to any current bonus year, may be
                amended, revised or discontinued by action of the Management
                Compensation Committee (the "Committee") of Scotsman Industries
                only if extraordinary factors occur during the year that
                would require restructuring of the Plan.

        (c)     The bonus for the preceding bonus year shall be paid in cash to
                each participant, or in case of death, to his heirs or personal
                representatives, each year following completion of the regular
                annual audit by independent public accountants, which normally
                is completed before February 28.

        (d)     A participant shall have no rights or obligations with respect
                to any completed bonus year by reason of adjustments applicable
                thereto made subsequent to determination of the bonus for
                such completed bonus year.  No rights of any nature shall
                accrue to any participant or employee with respect to any
                future bonus year.

        (e)     The Committee may at any time amend, revise or discontinue the
                Executive Incentive Compensation Program as applicable to
                subsequent bonus years.


<PAGE>   2



Executive Incentive Compensation Program
Plan A-1
Page 2




2.      Participants in Bonus

        (a)     Participants shall include key personnel selected as herein
                provided.  The Chairman, President and Chief Executive Officer
                of Scotsman Industries shall recommend to the Committee
                prior to March 1 of each year for its approval, revision or
                disapproval, lists of names of employees for participation in
                the bonus for the current bonus year.

        (b)     The Chairman, President and Chief Executive Officer of Scotsman
                Industries may at any time during the bonus year recommend to
                the Committee additional names of employees for participation
                beginning at a fixed date in the year and upon approval by the
                Committee such employees shall participate in the bonus for
                that portion of the year subsequent to the fixed date.

        (c)     The Chairman, President and Chief Executive Officer of Scotsman
                Industries may at any time during the bonus year recommend to
                the Committee the exclusion, for cause, of any employee
                from participation in the bonus for the year or for any portion
                thereof.  Upon approval of the recommendation by the Committee,
                any such employee shall not participate in the bonus for such
                year or for any portion of the year subsequent to a date fixed
                by the Committee.

        (d)     A participant who is separated from employment, for any reason,
                except death, disability, or retirement, prior to the end of
                the bonus year shall not participate in the bonus or any part
                thereof for the bonus year.  However, the Chairman,
                President and Chief Executive Officer of Scotsman Industries
                may, at his sole discretion, recommend the separated employee
                to the Committee for participation for all or part of the bonus
                year.

<PAGE>   3

Executive Incentive Compensation Program
Plan A-1
Page 3




3.      Computation of Bonus

        (a)     The actual bonus earned shall consist of three parts.  Part I
                is discretionary subject to a maximum of 21.0%; Part II is the
                percentage of the Net Operating Income objective earned subject
                to a maximum bonus of 18.0%, the percentage of the ROI
                objective earned subject to a maximum bonus of 12.0% and the
                percentage of the Working Capital to Sales objective earned
                subject to a maximum of 12.0%.  Part III is the percentage of
                the Corporate Net Operating Income objective earned subject to
                a maximum bonus of 3.0%, the percentage of the Corporate
                Earnings Per Share objective earned subject to a maximum bonus
                of 2.0% and the percentage of the Corporate Cash Flow objective
                earned subject to a maximum bonus of 2.0%.  For purposes of
                this Plan, the bonus percentages are set at various levels as
                follows:



<TABLE>
<CAPTION>
                                               BONUS PERCENTAGE EARNED
                                     -----------------------------------------
                                      Cut-In    Par      Premium      Maximum
                                      ------    ---      -------      -------
<S>                                  <C>       <C>      <C>          <C>
Part I - Individual Performance
        Discretionary                     0    10.5%      15.7%        21.0%

Part II - Division Team Results
        Net Operating Income              0     9.0%      13.5%        18.0%
        Return on Investment              0     6.0%       9.0%        12.0%
        Working Capital to Sales          0     6.0%       9.0%        12.0%

Part III - Corporate Team Results
        Net Operating Income              0     1.5%       2.3%         3.0%
        Earnings Per Share                0     1.0%       1.5%         2.0%
        Cash Flow                         0     1.0%       1.5%         2.0%
                                        ---    -----      -----        -----
        Total                             0    35.0%      52.5%        70.0%
                                        ===    =====      =====        =====

</TABLE>


                The bonus percentages under Parts II and III for attainment of
                objectives between any of the levels will be calculated on a
                pro rata basis.

<PAGE>   4

Executive Incentive Compensation Program
Plan A-1
Page 4




        (b)     The discretionary bonus earned by each participant shall vary
                from zero to a maximum of 21.0%.  The percentage shall be
                recommended by the Chairman, President and Chief Executive
                Officer for approval or revision by the Committee.

        (c)     The Net Operating Income, Return on Investment and Working
                Capital to Sales for each Division will be established by the
                Committee in the local currency of the participant's
                Division.

        (d)     The Net Operating Income, Earnings Per Share and Cash Flow
                objectives for Scotsman Industries will be established by the
                Committee in U.S. dollars.

        (e)     The bonus payable to each participant shall be a percentage, as
                determined in paragraphs 3(a), 3(b), and 3(c), of the
                participant's bonus base.  The maximum bonus payable under
                the Plan is 70.0% of the participant's bonus base.

4.      Definitions

        (a)     The Bonus Year is based on the accounting year used by Scotsman
                Industries.

        (b)     A participant's bonus base shall be the amount of compensation
                received by an employee during that portion of the bonus year
                during which he/she is designated as a participant.  For the
                purposes hereof, compensation shall be the participant's base
                rate compensation exclusive of bonuses payable hereunder,
                company contributions to a pension plan and any and all rights
                and benefits therein, or any other form of bonus, overtime, or
                such other payments as may be excluded by the Committee.


<PAGE>   5

Executive Incentive Compensation Program
Plan A-1
Page 5




        (c)     Division Net Operating Income (NOI) shall be profit before
                taxes on income of each participating division for the bonus
                year, as determined in accordance with generally accepted
                accounting principles, adjusted to eliminate extraordinary
                gains and losses as determined by the Committee and interest
                expense/income on debt and investments.  NOI will be measured
                on a LIFO basis covering U.S. operations and on a FIFO basis
                covering foreign operations.  However, any U.S. operations with
                Corporate approved FIFO inventories will be measured on a FIFO
                basis covering those inventories.

        (d)     Division Average Investment shall be the reported net assets of
                the division adjusted to eliminate cash balances, short and
                long-term investments including interdivision notes
                receivable, short and long-term debt including interdivision
                notes payable and obligations under capital leases, and accrued
                and deferred taxes on income.  Division Average Investment may
                be adjusted to reflect extraordinary changes in the net
                investment as determined by the Committee.  Inventories will be
                stated on a LIFO basis covering U.S. operations and on a FIFO
                basis covering foreign operations.

        (e)     Corporate Net Operating Income shall be reported consolidated
                profit before taxes on income as determined in accordance with
                generally accepted accounting principles, adjusted to eliminate
                extraordinary gains and losses as determined by the Committee
                and interest expense / income on debt and investments.

        (f)     Corporate Earnings Per Share shall be reported consolidated net
                income divided by fully-diluted weighted average Common shares
                outstanding, as determined in accordance with generally
                accepted accounting principles, adjusted to eliminate
                extraordinary gains and losses as determined by the Committee.

<PAGE>   6

Executive Incentive Compensation Program
Plan A-1
Page 6




        (g)     Division Working Capital to Sales shall be the percentage of
                the monthly average of the reported division working capital to
                the annual sales of the division excluding
                inter-division/inter-company transactions.  Working Capital is
                defined as the net book value of the sum of trade accounts
                receivable, inventory and trade accounts payable.  Average
                working capital will be based on month end balances starting
                with the ending balance of the preceding year and ending with
                the year end balance of the bonus year (average of 13 monthly
                balances), adjusted to eliminate extraordinary gains and losses
                determined by the Committee.

        (h)     Cash Flow shall be consolidated cash flow before acquisitions
                and divestitures for the year.

<PAGE>   7

                                                               February 18, 1997


                          SCOTSMAN INDUSTRIES, INC.

                1997 EXECUTIVE INCENTIVE COMPENSATION PROGRAM

                                  PLAN A-2

                           PARTICIPANT __________


1.   General

        (a)     This Plan for annual bonus, designed to provide increased
                incentive through additional compensation to selected key
                personnel, to be paid from profits to which such personnel have
                contributed by their services during the fiscal year, is
                declared effective for the bonus year ending December 31, 1997
                to continue in effect thereafter from year to year unless
                amended or discontinued as hereinafter provided.

        (b)     The Plan, as applicable to any current bonus year, may be
                amended, revised or discontinued by action of the Management
                Compensation Committee (the "Committee") of Scotsman
                Industries only if extraordinary factors occur during the year
                that would require restructuring of the Plan.

        (c)     The bonus for the preceding bonus year shall be paid in cash to
                each participant, or in case of death, to his heirs or personal
                representatives, each year following completion of the regular
                annual audit by independent public accountants, which normally
                is completed before February 28.

        (d)     A participant shall have no rights or obligations with respect
                to any completed bonus year by reason of adjustments applicable
                thereto made subsequent to determination of the bonus for such
                completed bonus year.  No rights of any nature shall
                accrue to any participant or employee with respect to any
                future bonus year.


        (e)     The Committee may at any time amend, revise or discontinue the
                Executive Incentive Compensation Program as applicable to
                subsequent bonus years.

<PAGE>   8

Executive Incentive Compensation Program
Plan A-2
Page 2



2.      Participants in Bonus

        (a)     Participants shall include key personnel selected as herein
                provided.  The Chairman, President and Chief Executive Officer
                of Scotsman Industries shall recommend to the Committee
                prior to March 1 of each year for its approval, revision or
                disapproval, lists of names of employees for participation in
                the bonus for the current bonus year.

        (b)     The Chairman, President and Chief Executive Officer of Scotsman
                Industries may at any time during the bonus year recommend to
                the Committee additional names of employees for participation
                beginning at a fixed date in the year and upon approval by the
                Committee such employees shall participate in the bonus for
                that portion of the year subsequent to the fixed date.

        (c)     The Chairman, President and Chief Executive Officer of Scotsman
                Industries may at any time during the bonus year recommend to
                the Committee the exclusion, for cause, of any employee
                from participation in the bonus for the year or for any portion
                thereof.  Upon approval of the recommendation by the Committee,
                any such employee shall not participate in the bonus for such
                year or for any portion of the year subsequent to a date fixed
                by the Committee.

        (d)     A participant who is separated from employment, for any reason,
                except death, disability, or retirement, prior to the end of
                the bonus year shall not participate in the bonus or any part
                thereof for the bonus year.  However, the Chairman, President
                and Chief Executive Officer of Scotsman Industries may, at his
                sole discretion, recommend the separated employee to the
                Committee for participation for all or part of the bonus year.


<PAGE>   9

Executive Incentive Compensation Program
Plan A-2
Page 3





3.      Computation of Bonus

        (a)     The actual bonus earned shall consist of two parts.  Part I is
                discretionary subject to a maximum of 21.0%; Part II is the
                percentage of the Net Operating Income objective earned subject
                to a maximum bonus of 21.0%, the percentage of the Earnings Per
                Share objective earned subject to a maximum bonus of 14.0%
                and the percentage of the Cash Flow objective earned subject to
                a maximum bonus of 14.0%.  For purposes of this Plan, the bonus
                percentages are set at various levels as follows:


<TABLE>
<CAPTION>
                                                BONUS PERCENTAGE EARNED
                                       ----------------------------------------
                                        Cut-In     Par     Premium     Maximum
                                        ------     ---     -------     -------
<S>                                     <C>      <C>      <C>        <C>
Part I - Individual Performance
        Discretionary                     0       10.5%     15.7%       21.0%

Part II - Team Results
        Net Operating Income              0       10.5%     15.8%       21.0%
        Earnings Per Share                0        7.0%     10.5%       14.0%
        Cash Flow                         0        7.0%     10.5%       14.0%
                                         --       -----     -----       -----
        Total                             0       35.0%     52.5%       70.0%
                                         ==       =====     =====       =====

</TABLE>


        The bonus percentage under Part II for attainment of objectives between
any of the levels will be calculated on a pro rata basis.

        (b)     The discretionary bonus earned by each participant shall vary
                from zero to a maximum of 21.0%.  The percentage shall be
                recommended by the Chairman, President and Chief Executive
                Officer for approval or revision by the Committee.

        (c)     The Net Operating Income, Earnings Per Share and Cash Flow
                objectives for Scotsman Industries will be established by the
                Committee in U.S. dollars.

        (d)     The bonus payable to each participant shall be a percentage, as
                determined in paragraphs 3(a), 3(b), and 3(c), of the
                participant's bonus base.   The maximum bonus payable under
                the Plan is 70% of the participant's bonus base.

<PAGE>   10

Executive Incentive Compensation Program
Plan A-2
Page 4





4.      Definitions

        (a)     The Bonus Year is based on the accounting year used by Scotsman
                Industries.

        (b)     A participant's bonus base shall be the amount of compensation
                received by an employee during that portion of the bonus year
                during which he/she is designated as a participant.  For the
                purposes hereof, compensation shall be the participant's base
                rate compensation exclusive of bonuses payable hereunder,
                company contributions to a pension plan and any and all rights
                and benefits therein, or any other form of bonus, overtime, or
                such other payments as may be excluded by the Committee.

        (c)     Net Operating Income shall be reported consolidated profit
                before taxes on income, as determined in accordance with
                generally accepted accounting principles, adjusted to
                eliminate extraordinary gains and losses as determined by the
                Committee and interest expense  / income on debt and
                investments.

        (d)     Corporate Earnings Per Share shall be reported consolidated net
                income divided by fully-diluted weighted average common shares
                outstanding, as determined in accordance with generally
                accepted accounting principles, adjusted to eliminate
                extraordinary gains and losses as determined by the Committee.

        (e)     Cash Flow shall be consolidated cash flow before acquisitions
                and divestitures for the year.

<PAGE>   11

                                                              February 18, 1997


                          SCOTSMAN INDUSTRIES, INC.

                1997 EXECUTIVE INCENTIVE COMPENSATION PROGRAM

                                   PLAN AA

                           PARTICIPANT ___________



1.   General

        (a)     This Plan for annual bonus, designed to provide increased
                incentive through additional compensation to selected key
                personnel, to be paid from profits to which such personnel have
                contributed by their services during the fiscal year, is
                declared effective for the bonus year ending December 31, 1997
                to continue in effect thereafter from year to year unless
                amended or discontinued as hereinafter provided.

        (b)     The Plan, as applicable to any current bonus year, may be
                amended, revised or discontinued by action of the Management
                Compensation Committee (the "Committee") of Scotsman
                Industries only if extraordinary factors occur during the year
                that would require restructuring of the Plan.

        (c)     The bonus for the preceding bonus year shall be paid in cash to
                each participant, or in case of death, to his heirs or personal
                representatives, each year following completion of the regular
                annual audit by independent public accountants, which normally
                is completed before February 28.

        (d)     A participant shall have no rights or obligations with respect
                to any completed bonus year by reason of adjustments applicable
                thereto made subsequent to determination of the bonus for such
                completed bonus year.  No rights of any nature shall
                accrue to any participant or employee with respect to any
                future bonus year.

<PAGE>   12

Executive Incentive Compensation Program
Plan AA
Page 2





        (e)     The Committee may at any time amend, revise or discontinue the
                Executive Incentive Compensation Program as applicable to
                subsequent bonus years.

2.      Participants in Bonus

        (a)     Participants shall include key personnel selected as herein
                provided.  The Chairman, President and Chief Executive Officer
                of Scotsman Industries shall recommend to the Committee
                prior to March 1 of each year for its approval, revision or
                disapproval, lists of names of employees for participation in
                the bonus for the current bonus year.

        (b)     The Chairman, President and Chief Executive Officer of Scotsman
                Industries may at any time during the bonus year recommend to
                the Committee additional names of employees for participation
                beginning at a fixed date in the year and upon approval by the
                Committee such employees shall participate in the bonus for
                that portion of the year subsequent to the fixed date.

        (c)     The Chairman, President and Chief Executive Officer of Scotsman
                Industries may at any time during the bonus year recommend to
                the Committee the exclusion, for cause, of any employee
                from participation in the bonus for the year or for any portion
                thereof.  Upon approval of the recommendation by the Committee,
                any such employee shall not participate in the bonus for such
                year or for any portion of the year subsequent to a date fixed
                by the Committee.

        (d)     A participant who is separated from employment, for any reason,
                except death, disability, or retirement, prior to the end of
                the bonus year shall not participate in the bonus or any part
                thereof for the bonus year.  However, the Chairman, President
                and Chief Executive Officer of Scotsman Industries may, at his
                sole discretion, recommend the separated employee to the
                Committee for participation for all or part of the bonus year.

<PAGE>   13

Executive Incentive Compensation Program
Plan AA
Page 3





3.      Computation of Bonus

        (a)     The actual bonus earned shall consist of two parts.  Part I is
                discretionary subject to a maximum of 36.0%; Part II is the
                percentage of the Net Operating Income objective earned subject
                to a maximum bonus of 36.0%, the percentage of the Earnings Per
                Share objective earned subject to a maximum bonus of 24.0%
                and the percentage of the Cash Flow objective earned subject to
                a maximum bonus of 24.0%.  For purposes of this Plan, the bonus
                percentages are set at various levels as follows:


<TABLE>
<CAPTION>
                                                BONUS PERCENTAGE EARNED
                                       ----------------------------------------
                                        Cut-In     Par     Premium     Maximum
                                        ------     ---     -------     -------
<S>                                     <C>      <C>      <C>        <C>
Part I - Individual Performance
        Discretionary                     0       18.0%     27.0%       36.0%

Part II - Team Results
        Net Operating Income              0       18.0%     27.0%       36.0%
        Earnings Per Share                0       12.0%     18.0%       24.0%
        Cash Flow                         0       12.0%     18.0%       24.0%
                                         --       -----     -----      ------
        Total                             0       60.0%     90.0%      120.0%
                                         ==       =====     =====      ======

</TABLE>



                The bonus percentage under Part II for attainment of objectives
                between any three of these levels will be calculated on a pro
                rata basis.

                (b)     The discretionary bonus earned by each participant
                shall vary from zero to a maximum of 36.0%.  The percentage
                shall be recommended by the Chairman, President and
                Chief Executive Officer for approval or revision by the
                Committee.

                (c)     The Net Operating Income, Earnings Per Share and Cash
                Flow objectives for Scotsman Industries will be established by
                the Committee in U.S. dollars.

<PAGE>   14

Executive Incentive Compensation Program
PlanAA
Page 4





                (d)     The bonus payable to each participant shall be a
                percentage, as determined in paragraphs 3(a), 3(b), and 3(c),
                of the  participant's bonus base.  The maximum bonus payable
                under the Plan is 120% of the participant's bonus base.

4.      Definitions

        (a)     The Bonus Year is based on the accounting year used by Scotsman
                Industries.

        (b)     A participant's bonus base shall be the amount of compensation
                received by an employee during that portion of the bonus year
                during which he/she is designated as a participant.  For the
                purposes hereof, compensation shall be the participant's base
                rate compensation exclusive of bonuses payable hereunder,
                company contributions to a pension plan and any and all rights
                and benefits therein, or any other form of bonus, overtime, or
                such other payments as may be excluded by the Committee.

        (c)     Net Operating Income shall be reported consolidated income
                before taxes on income, as determined in accordance with
                generally accepted accounting principles, adjusted to
                eliminate extraordinary gains and losses as determined by the
                Committee and interest expense / income on debt and
                investments.

        (d)     Corporate Earnings Per Share shall be reported consolidated net
                income divided by fully-diluted weighted average common shares
                outstanding, as determined in accordance with general accepted
                accounting principles, adjusted to eliminate extraordinary
                gains and losses as determined by the Committee.

        (e)     Cash Flow shall be consolidated cash flow before acquisitions
                and divestitures for the year.