ex10_37.htm


    


    EXHIBIT
10.37

    


    Pool Corporation Executive
Bonus Plan

    


    The
following is a description of the Pool Corporation Executive Bonus Plan (the
“Bonus Plan”) provided pursuant to Item 601(b)(10)(iii)(A) of Regulation S-K,
which requires a written description of a compensatory plan or arrangement when
no formal document contains the compensation information.

     

    Each
executive officer is eligible to earn an annual cash incentive (annual bonus).
The purpose of the annual bonuses is to promote the interests of our Company and
our stockholders by providing key employees with financial rewards upon
achievement of specified business objectives, as well as to help our Company
attract and retain key employees by providing attractive compensation
opportunities linked to performance results. In addition, we utilize annual
bonuses to focus corporate behavior on short-term goals for growth, financial
performance and other specific financial and business improvement
metrics.

     

    Our Chief
Executive Officer is eligible to earn an annual bonus in an amount equal to up
to 200% of his base salary.  Our four most-highly-compensated
executive officers besides our Chief Executive Officer (collectively, our “Named
Executive Officers”) are eligible to earn annual bonuses in an amount equal to
up to 150% of their base salary. Bonuses payable to our Named Executive Officers
are annually approved by the Compensation Committee of our Board of Directors.
The annual bonuses paid to our Named Executive Officers are paid according to
formulas based on objective performance criteria with a small component being
discretionary. On February 23, 2010, the Compensation Committee of our Board of
Directors approved the following objective performance measures for Mr. Perez de
la Mesa as follows: earnings per share, return on total assets, cash flow from
operations, strategic planning and organizational development. Additionally, the
Compensation Committee approved the following objective performance measures for
each of our other Named Executive Officers as follows:

    Mr. Mark
W. Joslin - earnings per share, cash flow from operations, expense management
and certain operational and organizational objectives relating to treasury,
investor relations, internal audit, tax, human resources, and business
support;

    Mr. A.
David Cook - earnings per share, gross margin, divisional profit and certain
sales, marketing and strategic sourcing objectives;

    Mr.
Kenneth G. St. Romain - earnings per share, group operating profit, gross
margin, expense management, organization planning and development and certain
inventory related objectives; and

    Mr.
Stephen C. Nelson- earnings per share, gross margin and gross profit, inventory
related objectives, and certain operational and organizational objectives
relating to leasing and facilities management, information technology and
central shipping locations.

    These
same performance measures will continue to be used for future years until
changed by the Compensation Committee of our Board of Directors. Payment of
bonuses (if any) is normally made in February after the end of the performance
period during which the bonuses were earned.