Bolthouse Farms and Garden Fresh Gourmet Employee. Notwithstanding the foregoing and any provision of the Plan to the contrary, severance payments for eligible exempt Salaried Employees of Wm. Bolthouse Farms, Inc., Garden Fresh Gourmet, LLC, and Garden Fresh Gourmet Foods, Inc. who have not yet been designated with an applicable grade level shall be deemed a grade level F on his or her date of employment termination until such applicable grade level designation is made.
RESOLVED, effective January 1, 2017, Wm. Bolthouse Farms, Inc., Garden Fresh Gourmet, LLC, and Garden Fresh Gourmet Foods, Inc. are hereafter deemed participating employers in the Plan and each entity is hereafter included in the definition of “Company” under [Article II], [Section 2.2] of the Plan; and
Participation - All salaried and hourly administrative employees of Wm. Bolthouse Farms, Inc. (Bolthouse Farms) are eligible to participate in the Bolthouse Farms Salaried & Hourly Administrative Performance-Based Incentive Plan (Incentive Plan).
All participants (except for the President, CFO and CMO of Bolthouse Farms) are eligible to receive a partial payout at the end of the first, second and third fiscal quarters, if the quarterly EBITDA target for Bolthouse Farms is achieved. Each quarterly payout opportunity represents 15% of the individual’s incentive target. If a quarterly EBITDA target is not achieved, the payout for that quarter may be earned if the year-to-date EBITDA target is achieved in a subsequent quarter. However, the total amount earned by the end of the third fiscal quarter cannot exceed 45% of an individual’s incentive target. Quarterly targets are paid in cash and issued within 60 days following completion of the applicable fiscal quarter. Quarterly payments are not recouped once paid to an individual.
RESOLVED, effective June 17, 2019 and September 23, 2019, respectively, Wm. Bolthouse Farms, Inc. and Kelsen, Inc. are hereafter no longer deemed participating employers in the Plan and each entity is hereafter no longer included in the definition of “Employer” under Article I, [Section 1.20] of the Plan and as set forth in Exhibit A, which is attached hereto;
You will continue in your role as SVP, President, Campbell Fresh. You will continue to be based at the Bolthouse headquarters in Bakersfield, California and in Santa Monica, California. You will continue to participate in the compensation and benefits programs as outlined in your July 22, 2014 employment letter, which will remain in full force and effect in accordance with its terms, with one exception: Your annual incentive target for [[Unknown Identifier]] and [[Unknown Identifier]] will increase to 175% of base salary. Your participation as Campbell’s representative to the investment committee with AVP does not diminish or alter your Campbell Fresh responsibilities.
Performance Pay-Out Table - At the beginning of each fiscal year, the Campbell Soup Company Chief Executive Officer (CEO) approves a Bolthouse Farms operating plan that includes a number of financial targets. Payouts under the Incentive Plan are based on individual performance and the achievement by Bolthouse Farms of goals related to Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA). A performance-payout table is established that outlines potential payouts for attainment of various EBITDA outcomes representing a range of performance above and below the approved EBITDA target (Performance-Payout Table). If the minimum EBITDA threshold is not reached, the Incentive Pool is reduced to zero. If the target EBITDA is achieved, the Incentive Pool equals 100% of the target value. If EBITDA exceeds the target value, the Incentive Pool increases as set out in the Performance-Payout Table until reaching a predetermined cap. The CEO approves the Performance-Payout Table and the final total payout of all awards under the plan.
Salaried personnel within the corporate structure of Sanderson Farms, Inc., Sanderson Farms, Inc. (Production Division), Sanderson Farms, Inc. (Processing Division) and Sanderson Farms, Inc. (Foods Division).
Village Farms International, Inc.
the structural parts of the Fresh Air inlet and including the louvres in the flank wall;
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