Document:

Prepared by MERRILL CORPORATION www.edgaradvantage.com

Exhibit 10.2  

Wednesday February 14, 7:01 pm Eastern Time  

Press Release  

Pope Resources Announces Major Timberland Acquisition  

    POULSBO, Wash.—(BUSINESS WIRE)—Feb. 14, 2001—Pope Resources
(Nasdaq:POPEZ-news) announced today that it has entered into a definitive purchase and sale agreement with Plum Creek Timber Company, Inc. to acquire
44,500 acres of industrial timberland in southwest Washington for approximately $54 million. 

    This
acquisition accomplishes an important strategic goal for the company," stated Allen E. Symington, Pope Resources Chairman and CEO. "Like many western timberland owners, Pope
Resources' timberlands have a bimodal distribution of age classes. This means we own a large quantity of acres containing mature timber and an even larger land base with relatively immature timber,
creating an age-class gap in between. We established a goal to remedy this situation by acquiring lands that will fill this age class gap in such a way as to even out future cash flows generated from
the company's timberland holdings. 

    Acquiring
these Plum Creek timberlands, a well managed property containing over 200 million board feet of standing timber inventory, will significantly fill the age-class gap
of our existing 74,000-acre fee timberland base. It increases our fee ownership by 60% and diversifies our product markets between Puget Sound, southwest Washington, and northwest Oregon. This
acquisition is squarely aligned with our decision to focus the company around timberland ownership and management. 

    The
acquisition will be financed by a mixture of senior debt and a short-term revolving acquisition credit facility. As such, we expect this acquisition to be dilutive to Pope
Resources earnings for a period of one to two years, but in line with our stated mission of adding long-term value for our unitholders." 

    Pope
Resources, a publicly traded limited partnership, owns or manages over 600,000 acres of timberland and development property in Washington, Oregon, California, and British
Columbia and provides forestry consulting and timberland investment management services to third-party owners and managers of timberland.Prepared by MERRILL CORPORATION www.edgaradvantage.com

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EXHIBIT 10.18  

 
 

INFOCUS CORPORATION
  2001 EXECUTIVE BONUS PLAN
  CEO & CHAIRMAN OF THE BOARD    
  

	POLICY:	 	It is InFocus Corporation's policy to provide the Corporate CEO and Chairman of the Board the opportunity for increased compensation based upon InFocus Corporation's overall achievement of Corporate profit
goals.
	
GUIDELINES:	
 	

1.	
 	

Adoption of Plan
	

 	
 	

 	
 	

This Executive Bonus Plan (the "Plan") was adopted by the Board of Directors of InFocus Corporation (the "Company") effective January 24, 2001.
	

 	
 	

2.	
 	

Purpose of Plan and Effective Date
	

 	
 	

 	
 	

The purpose of the Plan is to establish the terms and conditions under which the Company will pay Executive bonuses for the calendar year beginning January 1, 2001, and ending December 31, 2001.
	

 	
 	

 	
 	

Unless the Board of Directors specifically provides otherwise, all Executive bonuses will be awarded solely in accordance with this Plan.
	

 	
 	

3.	
 	

Eligibility
	

 	
 	

 	
 	

Eligibility is limited to the CEO and Chairman of the Board of the Company.
	

 	
 	

 	
 	

Eligible Executives must be in active pay status for an entire quarter to be paid profit sharing for that quarter.
	

 	
 	

 	
 	

In the event that an Executive is in the position for less than one year, a pro-rated bonus will be calculated based on number of months employed. No annual bonus will be paid if an Executive enters the position after October 1, 2001. Executives must
be actively employed on the last day of the year to be eligible for any annual bonus amount.
	

 	
 	

4.	
 	

Plan Components
	

 	
 	

 	
 	

(a) Profit Sharing
	

 	
 	

 	
 	

The first component of the bonus plan shall be the payment of profit sharing, paid quarterly. The percentage to be paid (multiplied by the Executive's quarterly salary) shall be at the same rate as calculated for other employees in accordance with
the currently approved InFocus Corporation Profit Sharing Program. The payment to be made to the Executives shall not reduce the amount to be paid to other employees, i.e., shall not come from the profit-sharing pool calculated for other
employees.
	
	
 	

 	
 	

 	
 	

 	
 	

 	
 	

 

	

 	

 	

 	

 	

(b) Annual Bonus
	

 	
 	

 	
 	

The second component of the bonus plan shall be an annual bonus paid at year-end based on the Company's 2001 financial performance (Profit Before Tax). This payout shall be calculated as follows:
	

 	
 	

 	
 	

•	
 	

The targeted bonus shall be 75 percent of base salary and shall be calculated using the following formula:
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

Bonus = (C) * (75%)
	

 	
 	

 	
 	

 	
 	

where:	
 	

 	
 	

 
	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	
C = Corporate PBT performance (vs. Operating Plan) calculated by dividing actual 2001 Profit Before Tax (PBT) plus income/loss from joint venture activity by Operating Plan PBT plus planned
income/loss from joint venture activity.
	

 	
 	

 	
 	

 	
 	

 	
 	

•	
 	

Other limitations/constraints regarding calculation of the bonus are as follows:
	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	

Bonus = 0 if C is less than 75%
	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	

An accelerator shall apply to above plan performance starting at 100% of plan. For every percent above 100%, 2.5% shall be multiplied by the Target Bonus Percentage.
	

 	
 	

5.	
 	

Payment of Executive Bonus
	

 	
 	

 	
 	

Payment of the Executive Bonus Plan will be based on audited year-end results, and will be distributed within 30 days after the audit has been completed.
	

 	
 	

6.	
 	

Discretion of the Board of Directors
	

 	
 	

 	
 	

Nothing in this Plan shall prohibit the Board of Directors from awarding a bonus to one or more Executives in addition to the Executive Bonus awarded pursuant to this Plan.
	

 	
 	

 	
 	

The Board of Directors reserves the right to modify, change or rescind this policy at any time at its sole discretion as is required to meet the Company's objectives.

2001 Executive Bonus Plan

CEO and Chairman of the Board 

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EXHIBIT 10.19  

 
 

INFOCUS CORPORATION
  2001 EXECUTIVE BONUS PLAN
  CORPORATE SENIOR VICE PRESIDENT    
  

	POLICY:	 	It is InFocus Corporation's policy to provide Corporate Senior Vice Presidents the opportunity for increased compensation based upon InFocus Corporation's overall achievement of Corporate profit
goals.
	
GUIDELINES:	
 	

1.	
 	

Adoption of Plan
	

 	
 	

 	
 	

This Corporate Senior Vice President Bonus Plan (the "Plan") was adopted by the Board of Directors of InFocus Corporation (the "Company") effective January 24, 2001.
	

 	
 	

2.	
 	

Purpose of Plan and Effective Date
	

 	
 	

 	
 	

The purpose of the Plan is to establish the terms and conditions under which the Company will pay Corporate Senior Vice President bonuses for the calendar year beginning January 1, 2001, and ending December 31, 2001.
	

 	
 	

 	
 	

Unless the Board of Directors specifically provides otherwise, all Corporate Senior Vice President bonuses will be awarded solely in accordance with this Plan.
	

 	
 	

3.	
 	

Eligibility
	

 	
 	

 	
 	

Eligibility is limited to the Corporate Senior Vice Presidents of the Company.
	

 	
 	

 	
 	

Eligible Corporate Senior Vice Presidents must be in active pay status for an entire quarter to be paid profit sharing for that quarter.
	

 	
 	

 	
 	

In the event that a Corporate Senior Vice President is in the position for less than one year, a pro-rated bonus will be calculated based on number of months employed. No annual bonus will be paid if a Corporate Senior Vice President enters the
position after October 1, 2001. Corporate Senior Vice Presidents must be actively employed on the last day of the year to be eligible for any annual bonus amount.
	

 	
 	

4.	
 	

Plan Components
	

 	
 	

 	
 	

(a) Profit Sharing
	

 	
 	

 	
 	

The first component of the bonus plan shall be the payment of profit sharing, paid quarterly. The percentage to be paid (multiplied by the Corporate Senior Vice President's quarterly salary) shall be at the same rate as calculated for other employees
in accordance with the currently approved InFocus Corporation Profit Sharing Program. The payment to be made to the Corporate Senior Vice Presidents shall not reduce the amount to be paid to other employees, i.e., shall not come from the
profit-sharing pool calculated for other employees.
	
	
 	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

 

	

 	
 	

 	
 	

(b) Annual Bonus
	

 	
 	

 	
 	

The second component of the bonus plan shall be an annual bonus paid at year end based on: (1) the Company's 2001 financial performance (Profit Before Tax), and (2) the performance of the Corporate Senior Vice President against his/her individual
goals/objectives. This payout shall be calculated as follows:
	

 	
 	

 	
 	

•	
 	

The targeted bonus shall be 45 percent of base salary and shall be calculated using the following formula:
	

 	
 	

 	
 	

 	
 	

Bonus = (70%C + 30%I ) (45%)
	

 	
 	

 	
 	

 	
 	

where:	
 	

 	
 	

 	
 	

 
	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	
C = Corporate PBT performance (vs. Operating Plan) calculated by dividing actual 2001 Profit Before Tax (PBT) plus income/loss from joint venture activity by Operating Plan PBT
plus planned income/loss from joint venture activity.
	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	
I = Individual Performance Objectives/MBOs (versus 2001 Corporate goals) determined by the CEO, by comparing the individual Senior Corporate Vice President's performance against
his/her Individual Performance Objective/MBOs.
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

NOTE: MBO's must be quantifiable and measurable. In addition, they must be submitted and approved by HR no later than March 30, 2001.
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

Other limitations/constraints regarding calculation of the bonus are as follows:
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

CORPORATE PORTION:
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	

Minimum threshold of 75% of PBT or no payout of this portion
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	

No cap on Corporate portion
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	

An accelerator shall apply to above plan performance starting at 100% of plan. For every percent above 100%, 2.5% shall be multiplied by the Target Bonus Percentage.
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

INDIVIDUAL (MBO) PORTION:
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

Below Plan Thresholds:
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	

Minimum threshold of 75% of MBOs or no payout of either portion
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	

Minimum threshold of 50% Corporate PBT or no payout of the MBO portion
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	

MBO portion reduced when Corporate PBT is between 50% and 75%
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

Above Plan Performance:
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	

Cap of 130% on MBO portion
	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

>	
 	

No accelerator on MBO portion
	
	
 	

 	
 	

 	
 	

 	
 	

 	
 	

 	
 	

 

	

 	
 	

5.	
 	

Payment of Corporate Senior Vice President Bonus
	

 	
 	

 	
 	

Payment of the Corporate Senior Vice President Bonus Plan will be based on audited year-end results, and will be distributed within 30 days after the audit has been completed.
	

 	
 	

6.	
 	

Discretion of the Board of Directors
	

 	
 	

 	
 	

Nothing in this Plan shall prohibit the Board of Directors from awarding a bonus to one or more Corporate Senior Vice Presidents in addition to the Corporate Senior Vice President Bonus awarded pursuant to this Plan. The Board of Directors reserves
the right to modify, change or rescind this policy at any time at its sole discretion as is required to meet the Company's objectives.

2001 Executive Bonus Plan

Corporate Senior Vice President 

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INFOCUS CORPORATION 2001 EXECUTIVE BONUS PLAN CORPORATE SENIOR VICE PRESIDENT

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