EX-10.11



 Exhibit 10.11 
  





 
  

			
	DATE:	  	April 16, 2014
		
	TO:	  	Vice Presidents
		
	From: 	  	Stephanie Pugliese
		
	RE:	  	Confidential Vice President Bonus Plan

 In recognition of the continuing growth and performance of the Company, we are pleased to offer this plan, which provides for
a higher level of bonus awards for Vice Presidents. The Plan is designed to reward Vice Presidents for outstanding performance and effort when the Company achieves 80% or more of budgeted Earnings Before Tax and Bonus (EBT &
B). Starting this year, Vice Presidents are eligible to receive a bonus of 30% of Eligible Wages at the 100% payout level. This compares to 20% in prior years and has been increased in recognition of Vice Presidents’ continued contribution to
the profitability of the entire company. The Plan represents compensation that is in addition to your base salary. 
 The following Plan features are
consistent with the 2013 Plan: 
  

	 	•	 	Bonus awards are based upon attainment of EBT & B 

  

	 	•	 	Bonus awards begin with a payout equal to 20% of bonus potential when EBT & B reaches 80% of budget 

  

	 	•	 	The maximum award will be 125% of bonus potential 

 The Vice President Bonus Plan Bonus plan potential
is 30% of Eligible Wages at the 100% payout level 
 Eligible Wages - Bonus payout dollars will be calculated based on the employee’s
Eligible Wages, which are defined as regular salary paid between January 1 and December 31, 2014. If an employee is promoted into a salaried position during 2014, the bonus award will be based on regular salary paid from the date of
promotion through year end. 
 Eligibility For Bonus Payments - To be eligible for their bonus payout, employees must be employed by the Company in a
salaried position as of Friday, March 13, 2015. The 2014 bonus payout, if any, will be made by March 13, 2015. 
 The 2014 Plan bonus award will
be 80% of bonus potential at budget attainment. 







 Bonus award payouts for 2014 are further detailed in the following chart: 

 

									
	 (000s)

EBT &

Bonus
	  	Performance To
Budget	 	% of
Bonus
Potential	 	Your
Bonus
Payout%	 	  

	 $16,480
	  	80.0%	 	20.0%	 	6.00%	 	Threshold
	 $16,995
	  	82.5%	 	27.5%	 	8.25%	 	
	 $17,510
	  	85.0%	 	35.0%	 	10.50%	 	
	 $18,025
	  	87.5%	 	42.5%	 	12.75%	 	
	 $18,540
	  	90.0%	 	50.0%	 	15.00%	 	
	 $19,055
	  	92.5%	 	57.5%	 	17.25%	 	
	 $19,570
	  	95.0%	 	65.0%	 	19.50%	 	
	 $20,085
	  	97.5%	 	72.5%	 	21.75%	 	
	 $20,600
	  	100.0%	 	80.0%	 	24.00%	 	Budget
	 $21,012
	  	102.0%	 	84.0%	 	25.20%	 	
	 $21,424
	  	104.0%	 	88.0%	 	26.40%	 	
	 $21,836
	  	106.0%	 	92.0%	 	27.60%	 	
	 $22,248
	  	108.0%	 	96.0%	 	28.80%	 	
	 $22,660
	  	110.0%	 	100.0%	 	30.00%	 	Target
	 $24,308
	  	118.0%	 	105.0%	 	31.50%	 	
	 $25,956
	  	126.0%	 	110.0%	 	33.00%	 	
	 $27,604
	  	134.0%	 	115.0%	 	34.50%	 	
	 $29,252
	  	142.0%	 	120.0%	 	36.00%	 	
	 $30,900
	  	150.0%	 	125.0%	 	37.50%	 	Max Bonus

 Bonus awards for EBT & B results falling in between the levels indicated above will be prorated. 

Bonus Award Examples 
 An individual with a 30%
bonus potential who is paid $150,000 between January 1 and December 31, 2014 would earn the following bonus awards under the Plan: 
  

	 	1.	If the Company achieves 80% of budgeted EBT & B or $16,480,000, this individual will earn a bonus of $9,000 ($150,000 x 6% = $9,000). 


 

	 	2.	If the Company achieves 100% of budgeted EBT & B or $20,600,000, this individual will earn a bonus of $36,000 ($150,000 x 24% = $36,000). 


 

	 	3.	If the Company achieves 150% of budgeted EBT & B or $30,900,000, this individual will earn a bonus of $56,250 ($150,000 x 37.50% = $56,250). 


 
  

This policy is administered at the discretion of the Company and may be modified at any time with the authorization of the Company’s CEO and/or Board of
Directors.