ex101






010-9134-2706/1 
 
1 
 
Core Molding Technologies, 
Inc. 
 
Salaried Employee Bonus Plan 
 
Purpose 
 
This
 
Core  Molding  Technologies, 
Inc.  Salaried  Employee  Bonus 
Plan  (“
Plan
”)  is  designed  to 
motivate  and 
compensate eligible 
salaried employees, 
in 2020 
, 
through cash 
bonuses based 
on the 
achievement of 
business 
performance objectives. 
The Plan 
is intended 
to be 
the primary 
vehicle for 
the granting 
of
 
cash bonuses
 
by Core 
Molding Technologies, 
Inc. (the “
Company
”) and recognizes 
the 2020 requirements 
to continue the 
turnaround of 
the Company, the ongoing effects on the business of COVID 19 and the Company’s new debt covenant requirements. 

However, the Company may, 
in certain limited circumstances, grant cash bonuses outside of this program, in the sole 
discretion of the Company’s Board 
of Directors (“
Board
”). 
 
The annual bonuses contemplated under the 
Plan are subject, in part, to 
the achievement of specific performance goals 
set previously by the Company 
during 2020, 
as described in this 
Plan. The Board may also 
consider plant performance 
and individual Salaried Employee performance in its determination of 
annual bonuses under the Plan.
 
Eligibility 
 
All full-time and part 
-time salaried employees 
who are employed by 
the Company prior 
to October 1, 
2020, or who 
were offered a 
bonus in an employment 
offer letter with 
a date after 
October 1, 2020, 
(“
Salaried
 
Employees
”) will 
be eligible to receive an annual bonus 
under the Plan, unless a Salaried Employee 
is not actively employed on the date 
of the payment of the bonus. 
 
Salaried Employees who meet the eligibility requirements 
set out above but were not Salaried Employees for 
the full 
year will be paid any annual bonus on a pro rata basis based upon the 
Salaried Employee’s eligible base salary earned 
during the year. 
Salaried Employees who do not work 
a full Plan Year because they were out of work 
on an approved 
leave of absence for part of 
the Plan Year 
will be eligible to receive an annual 
bonus on a pro rata basis based 
on the 
actual amount of eligible base salary earned during the year as 
determined by the Board. 
 
Bonus Performance Goals 
 
Each Salaried 
Employee will be 
assigned an annual 
bonus target 
percentage for 
the year (“
Annual
 
Bonus Target 
%”) 
based upon 
the Salaried 
Employee’s position 
with the 
Company. The 
Annual Bonus 
Target 
% will 
be a 
percentage of the Salaried Employee’s 
annual base salary. 
If the Company achieves the business performance results 
established by 
the Board 
(“
Annual Goal
”), Salaried 
Employees will 
be eligible 
to receive 
an annual 
bonus as 
determined by 
the Board. 
 
Any annual bonuses 
paid pursuant to 
the Plan will 
vary depending upon 
the Salaried Employee’s 
level of position 
with the Company and other factors determined by the Board 
. 

2020 Plan Year
 
For the Company’s 2020 
calendar fiscal year annual bonuses, the Company’s 
minimum Annual Goal is pre-bonus 
Earnings Before Interest, Taxes, 
Depreciation and Amortization (“
EBITDA
”) of $16,700,000, target Annual Goal is 
EBITDA of $20,350,000, and maximum Annual Goal is EBITDA of 
$24,000,000. 
The Annual Bonus Target 
% for 






 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

010-9134-2706/1 
 
2 
the target Annual Goal of $20,350,000 of EBITDA for 
each level of Salaried Employee position for the 2020 Plan 
Year 
is as follows: 
 
Position
(In the event a Salaried Employee changes 
positions during the Plan Year, the Annual Bonus Target % will be 
prorated based on the Salaried Employee’s positions during the 
year)
Annual 

Bonus Target % 
(% of base salary)
Executive
50%
Vice President
25% 
Director 
20% 
Manager
 
10%
Supervisor / Other Salary 
5%
EBITDA below 
or above 
the 2020 
target Annual 
Goal of 
$20,350,000 will 
result in 
the Board 
extrapolating the 
percentages specified above 
with no annual 
bonuses being paid 
if EBITDA is 
below $16,700,000 
and 120% of 
the 
Annual Bonus Target 
paid if the maximum EBITDA of $24,000,000 
is achieved. 

The Board, in its 
sole discretion, will determine 
whether the Annual Goal 
has been met or 
has been met to 
a degree 
warranting a 
higher pay 
-out than 
would otherwise 
be calculable 
under this 
Plan. For 
example, the
 
Board may 
determine that one-time charges should be disregarded 
in determining a Plan Year’s 
EBITDA Annual Goal. 
 
Payment of Annual Bonuses; Miscellaneous Plan Provisions 
 
Annual bonuses approved by the Board are targeted 
to be paid before March 15, 
2021. 
The establishment of the Plan, any 
provisions of the Plan, and/or any action 
of the Board with respect to 
the Plan, does 
not confer upon any Salaried Employee the 
right to continued employment with the Company. The Company reserves 
the right to 
dismiss any Salaried 
Employee at any 
time, with or 
without prior notice, 
with or without 
cause, to the 
same extent as though the Plan had not been adopted. 
 
All annual bonus payments 
are subject to 
federal, state and 
local tax withholding 
requirements and other 
applicable 
withholding requirements. 
 
No Salaried Employee shall 
have any claim or 
right to any annual 
bonus under the Plan 
until it is paid 
by the Company, 
and there is 
no obligation for 
uniformity of treatment 
of Salaried Employees 
under the Plan; 
and, therefore, annual 
bonuses need not be the same with respect to 
each Salaried Employee. Any annual bonus payment shall be a one-time 
annual bonus 
payment, and 
shall not 
constitute a 
promise of 
future annual 
bonus payments. 
Any annual 
bonus 
payments shall be 
made out of 
the Company’s 
general assets, and 
no Salaried Employee 
shall have any 
right to an 
annual bonus upon 
payment other than 
that of a 
general unsecured 
creditor of the 
Company. The 
resolution of any 
questions or claims with respect to 
payments and entitlements of and to annual bonuses 
pursuant to the provisions of 
this Plan 
shall be 
determined by 
the Board, 
in its 
sole discretion, 
and all 
such determinations 
shall be 
final and 
conclusive. 

This Plan may 
be terminated by 
the Board, at 
its sole discretion, 
at any time 
and amended by 
the Board, at 
its sole 
discretion, from time to time without the approval of any Salaried 
Employee. 
* * *