Document:

Excerpt from letter from the Registrant to James Ken Newman

 Exhibit 10.2 
  

	B.	Deferred Incentive Bonus 

  
 This bonus shall also have a bonus base of 100% of base salary with a maximum bonus potential of 150% of base salary. This bonus will also be based on the
performance target of the Company achieving budgeted corporate earnings per share as contained in the 2005 budget as approved by the Board of Directors of the Company. This bonus will be earned on the same pro rata basis as the Annual Incentive
Bonus. Specifically, if 80% of the Corporate Performance Target is achieved, one half of the bonus base will be earned, increased pro rata upward so that the bonus base is earned if 100% of the Corporate Performance Target is achieved. The bonus
would be further increased upward on a pro rata basis so that the maximum potential bonus of 150% of base salary is earned if 115% achievement of the Corporate Performance Target is achieved. 
  
 This bonus shall be payable in four equal installments. Each installment
shall be payable one half in cash and one half in restricted stock. Each installment shall be subject to vesting based on the condition of your continued employment at the Company until the date the bonus is payable. If you should leave the Company
for any reason, other than death, disability or retirement, the unvested portion of the deferred bonus will be forfeited. If your employment shall terminate due to death, disability or retirement, the unvested installments of the deferred bonus
shall immediately vest in full, but shall continue to be payable in accordance with what otherwise would have been the payment dates of such installments. 
  
 Any unvested installments shall also immediately vest upon the occurrence of a change of control of the Company (as defined in the Bonus Plan) and shall
be immediately payable in full. 
  
 The total number of shares of
the restricted stock that will be issued for this bonus irrespective of vesting dates will be determined by dividing the dollar amount of one half of the total deferred incentive bonus award earned by the closing price of the common stock of the
Company on the NASDAQ stock market on August 31, 2005, the last day of the fiscal year to which the Corporate Performance Target relates. 
  
 As we have discussed, the restricted stock award is subject to the stockholders of the Company approving an equity plan that allows for the grant of
restricted stock awards. The stock option plans of the Company do not currently permit such awards. It is contemplated that an Omnibus Equity Plan will be proposed for adoption by the shareholders at the annual meeting in January of 2005. If such a
plan is not adopted, then the Board of Directors will review and otherwise appropriately adjust for that portion of the deferred incentive bonus to be payable in some other manner. In addition, the Board of Directors has reserved the right to grant
stock options instead of the restricted stock awards for the deferred incentive bonus award. In such event, the numbers of shares subject to the stock options would be equal to three times the number of shares that would have otherwise been granted
as restricted stock and the stock option exercise price would be the closing price of the common stock of the Company on the NASDAQ stock market on August 31, 2005. 

 The Board of Directors generally considers that the Corporate Performance Target will not be adjusted for
extraordinary events, such as acquisitions or dispositions, with respect to both the Annual Incentive Bonus and the Deferred Incentive Bonus. However, the Board of Directors reserves the right to adjust the actual performance of the Company to take
into account any extraordinary or other items which the Board of Directors in its judgment considers should not be taken into account in determining the performance of the Company for the purposes of the senior executive bonus program.Excerpt from letter from the Registrant to David K. White

 Exhibit 10.3 
  

	B.	Deferred Incentive Bonus 

  
 This bonus shall also have a bonus base of 50% of base salary with a maximum bonus potential of 70% of base salary. This bonus will be based on the
performance target of the Company achieving budgeted corporate earnings per share as contained in the 2005 budget as approved by the Board of Directors of the Company (the “Corporate Performance Target”). This bonus will be earned on the
same pro rata basis as the Annual Incentive Bonus. Specifically, if 80% of the Corporate Performance Target is achieved, one half of the bonus base will be earned, increased pro rata upward so that the bonus base is earned if 100% of the Corporate
Performance Target is achieved. The bonus would be further increased upward on a pro rata basis so that the maximum potential bonus of 70% of base salary is earned if 115% achievement of the Corporate Performance Target is achieved. 
  
 This bonus shall be payable in four equal installments. Each installment
shall be payable one half in cash and one half in restricted stock. Each installment shall be subject to vesting based on the condition of your continued employment at the Company until the date the bonus is payable. If you should leave the Company
for any reason, other than death, disability or retirement, the unvested portion of the deferred bonus will be forfeited. If your employment shall terminate due to death, disability or retirement, the unvested installments of the deferred bonus
shall immediately vest in full, but shall continue to be payable in accordance with what otherwise would have been the payment dates of such installments. 
  
 Any unvested installments shall also immediately vest upon the occurrence of a change of control of the Company (as defined in the Bonus Plan) and shall
be immediately payable in full. 
  
 The total number of shares of
the restricted stock that will be issued for this bonus irrespective of vesting dates will be determined by dividing the dollar amount of one half of the total deferred incentive bonus award earned by the closing price of the common stock of the
Company on the NASDAQ stock market on August 31, 2005, the last day of the fiscal year to which the Corporate Performance Target relates. 
  
 As we have discussed, the restricted stock award is subject to the stockholders of the Company approving an equity plan that allows for the grant of
restricted stock awards. The stock option plans of the Company do not currently permit such awards. It is contemplated that an Omnibus Equity Plan will be proposed for adoption by the shareholders at the annual meeting in January of 2005. If such a
plan is not adopted, then the Board of Directors will review and otherwise appropriately adjust for that portion of the deferred incentive bonus to be payable in some other manner. In addition, the Board of Directors has reserved the right to grant
stock options instead of the restricted stock awards for the deferred incentive bonus award. In such event, the numbers of shares subject to the stock options would be equal to three times the number of shares that would have otherwise been granted
as restricted stock and the stock option exercise price 

 
would be the closing price of the common stock of the company on the NASDAQ stock market on August 31, 2005. 
  
 The Board of Directors generally considers that the Group Performance Target
and the Corporate Performance Target will not be adjusted for extraordinary events, such as acquisitions or dispositions, with respect to both the Annual Incentive Bonus and the Deferred Incentive Bonus. However, the Board of Directors reserves the
right to adjust the actual performance of the Group and the Company to take into account any extraordinary or other items which the Board of Directors in its judgment considers should not be taken into account in determining the performance of the
Group or the Company for the purposes of the senior executive bonus program. 
  

 22004 Bonuses and 2005 Base Salaries, Target Bonuses and Annual Stock Option

 Exhibit 10.1 
  

														
	 Executive Officer

	  	2004 Cash Bonuses

	  	2004 Bonuses
Shares

	  	2005 Base Salary

	  	 2005 Target Bonus
 (% of Base Salary)1

	 	 	2005 Stock Option
Award Shares

	 Geoffrey F. Cox, Ph.D.
Chairman of the Board, President and
Chief Executive Officer
	  	$	70,575	  	13,757	  	$	436,800	  	40	%	 	75,000
						
	 John B. Green
Senior Vice President, Chief Financial
Officer and Treasurer
	  	$	34,628	  	6,750	  	$	280,800	  	30	%	 	39,000
						
	 Gregory F. Liposky
Senior Vice President, Operations
	  	$	33,278	  	6,486	  	$	265,200	  	30	%	 	55,000
						
	 Harry M. Meade, Ph.D.
Senior Vice President, Research
and Development
	  	$	33,138	  	6,459	  	$	273,520	  	30	%	 	39,000
						
	 Daniel S. Woloshen
Senior Vice President and
General Counsel
	  	$	26,793	  	5,222	  	$	238,160	  	30	%	 	27,000

	1	The target bonus opportunity can be exceeded by up to 20% of the target if GTC achieves exceptional corporate performance, as determined by the Committee, and the
individual achieves high individual performance. For example, an executive with a target bonus of 30% could receive a bonus of as much as 36% of base salary.Change of Control

 Exhibit 10(a1) 
 Change of control 
 The following executives are covered by this change of control agreement: 
 3-Year 
 Ralph F. Hake 
 George C. Moore 
 Roger K. Scholten 

Mark Krivoruchka 
 Ernest Park 
 Thomas J. Piersa 
 Karen Lynn 
 James R. Caldwell 
 Robert C. Breese 

Douglas Huffer 
  
 2-Year 
 Steve Benton 
 Paul Bognar 
 Annette Bravard 
 Robert Hardin 
 Stephen Ingham 
 Steve Klyn 
 Arthur Learmonth 
 Patricia Martin 
 Roy Rumbough 
 James Starkweather 
 Christopher WignallBoard of Directors Compensation

 Exhibit 10(r) 
  
 MAYTAG CORPORATION BOARD OF DIRECTORS 
 COMPENSATION 
 2005 
  

			
		
	 Annual Retainer
	  	$35,000 per annum
		
	 Meeting and Committee Fees
	  	$2,500 per committee and board meeting
		
	 Committee Chair Fee
	  	$5,000 per annum
		
	 Executive and Audit Committee Chair Fee
	  	$7,000 per annum
		
	 Telephone Meeting or Attendance Via Telephone
	  	$1,000 per meeting
		
	 Deferred Compensation Plan:
	  	All non-employee directors may elect to defer all or a portion of their director’s compensation.
		
	 Stock Options:
	  	Each current director receives an option to purchase 3,000 shares of Maytag stock annually on the day after the Annual Meeting of Shareholders at the market value of the stock on that date,
pursuant to the 2002 Employee and Director Stock Incentive Plan. Each new Director to receive 10,000 stock options when they join the Board; this grant would be in lieu of the normal first year grant. Option terms would be same as for current
employees—vesting one-third of the grant each year.
		
	 Appliances:
	  	Corporation products are available under the Directors’ Appliance Program; Directors are taxed at the fair market cost.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}]]