exv10w58



 



Exhibit 10.58


Tractor Supply Company


Fiscal 2002


Executive and Vice President Bonus Plan











	 	 	 
	Purpose	 	
The Tractor Supply Company and its subsidiaries, hereinafter referred to as “the Company”, Executive and Vice
President Bonus Plan is established to provide a financial incentive and reward for attaining the Company’s “Net
Income” objectives.
	 	 	 
	Eligibility	 	
The plan established a participating group of employees comprising Executives and Vice Presidents of the Company as
follows:
	 	 	
Chief Executive Officer
	 	 	
Chief Operating Officer
	 	 	
Chief Financial Officer
	 	 	
Senior Vice Presidents
	 	 	
Vice Presidents (excluding Vice Presidents of Store Operations)
	 	 	 
	 	 	
Except as provided below, participants in the plan shall
only be entitled to bonuses to be paid with respect to a
fiscal year if they are employed by the Company on the
determination date (hereinafter defined) for such fiscal
year. Participation for eligible associates in position
for less than a full calendar year will be on a pro-rata
basis, which will only be computed on full fiscal months of
service. Participants who are not employed by the Company
on such determination date because of death, disability,
retirement, or involuntary termination (other than for
cause) will be entitled to a payment equal to the on plan
bonus amount with respect to such fiscal year on a pro-rata
basis, which will only be computed on full fiscal months of
service, if all other plan conditions are met.
	 	 	 
	 	 	
The Company reserves the right, subject to review by the
Senior Human Resources Executive, to withhold all or a
portion of bonus payments when an individual’s performance
rating needs improvement or is below standard.
	 	 	 
	Calculation	 	
The Corporate Controller shall have the responsibility of
calculating each bonus payment. Percentages used in the calculation will
not be rounded up or down. The process and calculation will be reviewed
by the Company’s independent public accountants or other independent party
selected by the Compensation Committee of the Board of Directors.









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Executive and Vice President Bonus Plan, continued









	 	 	 
	Determination date	 	
Bonus amounts shall be determined no later than March 15
following the Company’s fiscal year end (the “Determination Date”). Bonus
amounts shall be paid to the Executive and Vice President group as soon as
administratively practicable after the Determination Date.
	 	 	 
	 	 	


	 	 	 
	Bonus Amounts	 	
Bonus amounts awarded will be based on the percentage attainment
of Net Income as set forth below. The annual budget approved by the
Company’s Board of Directors will be used to determine the payout.
	 	 	 
	 	 	


	 	 	 
	Bonus Opportunity	 	
The table below shows the percentage as it relates to
achievement of Company Level Net Income. Bonus percentage is calculated
based upon the annual salary in effect on the last day of the fiscal year.
	 	 	 
	 	 	


	 	 	 
	Profit Plan	 	
Net income for this bonus plan will exclude the financial effect of
all unusual, infrequent or extraordinary items, all as defined in
accordance with Generally Accepted Accounting Principles.




	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Attainment of Profit Plan	 	CEO	 	COO	 	SR VP	 	VP
	
	 	
	 	
	 	
	 	

	 	 	Less than 90%
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	 	90% but less than 93%
	 	 	19	 	 	 	12	 	 	 	10	 	 	 	7	 
	 	93% but less than 95%
	 	 	28	 	 	 	21	 	 	 	17	 	 	 	11	 
	 	95% but less than 98%
	 	 	36	 	 	 	30	 	 	 	24	 	 	 	15	 
	98% but less than 100%
	 	 	54	 	 	 	45	 	 	 	35	 	 	 	20	 
	100% but less than 102%
	 	 	75	 	 	 	60	 	 	 	45	 	 	 	28	 
	102% but less than 104%
	 	 	93	 	 	 	72	 	 	 	60	 	 	 	36	 
	104% but less than 106%
	 	 	101	 	 	 	86	 	 	 	68	 	 	 	41	 
	106% but less than 108%
	 	 	119	 	 	 	100	 	 	 	75	 	 	 	46	 
	108% but less than 110%
	 	 	136	 	 	 	114	 	 	 	82	 	 	 	51	 
	 	 	 	110%
	 	 	150	 	 	 	120	 	 	 	90	 	 	 	56	 











	 	 	 
	Right of discharge reserved	 	
Nothing in the plan shall confer upon any participant the
right to continue in the employment of the Company or affect any right
that the Company may have to terminate the employment of
such participant.











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	Amendment or
termination of the plan	 	
The Company, with the approval of the Compensation Committee
of the of the Board of Directors, reserves the right to
discontinue or modify the plan at any time and for any reason whatsoever,
without prior notice and without further liability of the
Company to the participants.
	 	 	 
	


	 	 	 
	Effective date	 	
The plan shall be effective for fiscal years commencing on and
after December 30, 2001.
	 	 	 
	


	 	 	 
	Governing law	 	
The plan shall be governed by and construed in accordance with
the internal laws of the state of Delaware.














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