Document:

exv10w48

 

EXhibit 10.48

2008 EXECUTIVE INCENTIVE PLAN

1.0 PURPOSE

The 2008 Executive Incentive Plan (the “Plan”) is a vital part of CSK Auto, Inc.’s (the “Company”)
total compensation program. The purpose of the Plan is to provide the President and Chief Executive
Officer (the “Executive”) with an opportunity to directly share in the success of the Company by
paying a bonus (“Bonus”) for outstanding Company achievements during the 2008 fiscal year
(February 4, 2008 through February 1, 2009).

2.0 OVERVIEW AND ELIGIBILITY

Bonus is based upon Company performance during the entire fiscal year. Bonus under this Plan if
any) will be paid to the Executive in Spring, 2009 (or as soon thereafter as is reasonably feasible
based on the facts and circumstances) based on the level of achievement of the Company goals,
contingent upon adherence to the Company’s codes of ethics and subject to obtaining appropriate
approvals by the Compensation Committee of the Board of Directors.

Notwithstanding anything herein to the contrary, in the event that (i) there is no Change in
Control during the 2008 fiscal year, and (ii) the Executive’s employment with the Company and its
subsidiaries is terminated for any reason other than a termination by the Company for Cause (as
defined below) prior to the date a Bonus earned under this Plan is paid, the Executive shall be
entitled to receive, on the date bonuses are paid generally to active executive officers of the
Company, a pro-rated portion, based on the number of months (rounded to the nearest full month)
that the Executive was employed by the Company and its subsidiaries during the 2008 fiscal year, of
the Bonus under the Plan that the Executive would have earned under the Plan had he remained
employed through the bonus payment date based on the actual results of the Company over the entire
year.

Notwithstanding anything herein to the contrary, this Plan is subject to the Employment Agreement,
as amended, between the Company and the Executive, which is hereby incorporated by this reference,
and which contains special provisions regarding the Bonus in the event of a Change in Control. In
the event of any conflict between the Employment Agreement and this Plan, the Employment Agreement
shall govern. For purposes of this Plan, the term “Cause” means the definition of “Cause” under
the Employment Agreement between the Company and the Executive.

3.0 BONUS FUNDING GOAL 

The “Funding Performance” criteria as used in this Plan refers specifically to the Company’s
performance relative to achievement of an earnings-related goal (EBITDA, as defined in this Section
3.0) established for the 2008 fiscal year.

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) as used in this Plan means
Company earnings before interest, taxes, depreciation and amortization, for the Plan Year, as
adjusted for

 

 

(i) non-comparable or non-recurring items (as determined by the Compensation
Committee, based on the approved budget), (ii) costs related to the ongoing regulatory
investigations and securities class action relative to the Company’s historical accounting
practices, including any settlement costs, defense costs, fines or penalties, and (iii) costs
including professional fees incurred in connection with the Board of Director’s evaluation of
strategic alternatives. The determination of EBITDA for purposes of this Section 3.0 shall be
certified by the Compensation Committee of the Board of Directors.

For 2008, the Executive’s Funding Performance goal is set forth on Appendix A hereto.

4.0 COMPANY PERFORMANCE GOAL 

The “Company Performance” as used in this Plan refers specifically to the Company’s performance
relative to achievement of an earnings-related goal (Adjusted EBITDA, as defined below) established
for 2008 fiscal year.

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) as used
in this Plan means consolidated earnings before interest, income taxes, depreciation, and
amortization. Adjusted EBITDA will be calculated before (1) costs related to the ongoing
regulatory investigations and securities class action relative to the Company’s historical
accounting practices, including any settlement costs, defense costs, fines or penalties, (2) costs
including professional fees incurred in connection with the Board of Director’s evaluation of
strategic alternatives, (3) equity related compensation whether or not the amount is paid in cash,
(4) cash-in-lieu of equity bonus, (5) non-recurring or non-comparable gains or losses including any
impairment charges or asset write-offs, (6) purchase accounting adjustments, and, (7) any other
adjustments to EBITDA made in good faith by the Compensation Committee of the Board of Directors.

Appendix A provides detail of the Company Adjusted EBITDA goal target and achievement levels and
the potential Bonus percent of salary payable at each Company Performance level.

5.0 SALARY

“Salary” as used in this Plan means base annual salary as of the time that Executive’s fiscal 2008
salary was set in March, 2008.

6.0 ADMINISTRATION

The Plan is administered by the Compensation Committee of the Board of Directors and any
interpretations of this Plan shall be made by such Committee.

7.0 GENERAL PROVISIONS

No portion of the Plan is to be construed as a contract for employment. The designation of
Executive as a participant will not give such Executive any right to continued employment with the
Company. The Company reserves its rights to suspend, demote, transfer, or terminate Executive.

2

 

7.01 UNFUNDED PROGRAM

The Plan is an unfunded program. The Company does not have an obligation to set aside, earmark or
entrust any fund, policy or money with which to pay obligations under the plan. The amount of money
payable under the Plan with respect to the participant, will be paid from general revenues.

7.02 RIGHT TO AMEND

Prior to a Change of Control (as defined below), the Company reserves the right to change, revise
or rescind the policies or statements described in this Plan
Notwithstanding anything herein to the contrary, following a Change of Control, no change,
modification, revision, amendment or termination of this Plan (as evidenced by this document) shall
be made which would impair the rights of Executive to a Bonus under this Plan without Executive’s
consent.

For purposes of this Plan, the term “Change of Control” has the meaning ascribed to such term in
the employment agreement between the Company and the Executive.

7.03 DISQUALIFICATION FOR VIOLATION OF COMPANY POLICY

Notwithstanding anything herein to the contrary, if Executive violates any Company policy during
the fiscal year, or attempts to alter, manipulate, or falsely present any facts which bear upon any
aspect of this Plan, he may, at the sole discretion of the Compensation Committee of the Board of
Directors, forfeit any benefits hereunder, in addition to any other disciplinary action to which
Executive may be subject.

3Unassociated Document

     

    EXHIBIT 10.1

    

    TAO
MINERALS LTD.

    

    2008
PROFESSIONAL/CONSULTANT STOCK COMPENSATION PLAN

    

    1.  Purpose. The purpose
of this Plan is to provide compensation in the form of Common Stock of the
Company to eligible consultants that have previously
rendered  services  or  that  will  render  services  during  the  term  of
this 2008 Professional/Consultant Stock Compensation Plan (hereinafter referred
to as the Plan.)

    

    2.  Administration.
(a)  This Plan shall be administered by the Board of Directors who may
from time to time issue orders or adopt resolutions, not inconstant with the
provisions of this Plan, to interpret the provisions and supervise the
administration of this Plan.  The President shall make initial
determinations as to which consultants, professionals or advisors will be
considered to receive shares under this Plan, in addition, will provide a list
to the Board of Directors. All final determinations shall be by the affirmative
vote of a majority of the members of the Board of Directors at a meeting called
for such purpose, or reduced to writing and signed by a majority of the members
of the Board. Subject to the Corporation's Bylaws,
all  decisions  made  by  the  Directors  in  selecting  eligible  consultants
(hereinafter referred to as Consultants), establishing the number of shares, and
construing the provisions of this Plan shall be final, conclusive and binding on
all persons including the Corporation, shareholders, employees and
Consultants.

    

    (b)  The
Board of Directors may from time to time appoint a Consultants Plan Committee,
consisting of at least one Director and one officer, none of whom shall be
eligible to participate in the Plan while members of the Committee. The Board of
Directors may delegate to such Committee power to select the particular
Consultants that are to receive shares, and to determine the number of shares to
be allocated to each such Consultant.

    

    (c) If
the SEC Rules and or regulations relating to the issuance of Common Stock under
a Form S-8 should change during the terms of this Plan, the Board of Directors
shall have the power to alter this Plan to conform to such changes.

    

    3.  Eligibility.  Shares
shall be granted only to Professionals and Consultants that are within that
class for which Form S-8 is applicable.

    

    4.  Shares Subject to the
Plan.  The total number of shares of Common Stock to be subject
to this Plan is 6,000,000. The shares subject to the Plan will be registered
with the SEC on or about April 7, 2008 in a Form S-8 Registration.

    

    5.  Death of Consultant.
If a Consultant dies while he is a Consultant of the Corporation or of
any subsidiary, or within 90 days after such termination, the shares, to the
extent that the Consultant was to be issued shares under the plan, may be issued
to his personal representative or the person or persons to whom his rights under
the
plan  shall  pass  by  his  will  or  by  the  applicable  laws  of  descent
and distribution.

    

    6.  Termination of Consultant,
retirement or disability.  If a Consultant shall cease to be
retained by the Corporation for any reason (including retirement and disability)
other than death after he shall have continuously been so retained for his
specified term, he may, but only within the three-month period immediately
following such termination, request his pro-rata number of shares for his
services already rendered.

    

    7.  Termination of the
Plan.  This Plan shall terminate one year after its adoption by
the Board of Directors. At such time, any shares that remain unsold shall be
removed from registration by means of a post-effective amendment to the Form
S-8.

    

    8.  Effective Date of the
Plan.  This Plan shall become effective upon its adoption by
the Board of Directors.

    

    CERTIFICATION
OF ADOPTION

    (By the
Board of Directors)

    

    The
undersigned, being the President and Chairman of the Board of Directors of Tao
Minerals Ltd. hereby certifies that the foregoing Plan was adopted by a
unanimous vote of the Board of Directors on April 7, 2008.

    

    

    /s/ JAMES
SIKORA

    James
Sikora

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