No ERISA Event has occurred or is reasonably expected to occur with respect to an ERISA Plan. The payout at bank plan EBITDA is approximately $950,000 and is approved annually by the Board of Managers’ compensation committee.Įmployee Benefits Plans Schedule 6.11 hereto identifies each ERISA Plan as of the Closing Date. Similarly, the bonus level would decrease if the EBITDA target is not met to as low as 44.6%. The payout is enhanced by 10% of any excess over the target EBITDA, and the management bonus can be paid out at up to 153.6% of the target bonus. At bank plan credit agreement EBITDA, the bonuses are paid at 100%. Employee Benefits Schedule. (a) Pension Plans and Welfare Plans Alliance Laundry Systems Pension Plan Alliance Laundry Systems Capital Appreciation Plan Alliance Laundry Systems LLC Delta Dental Plan (Wisconsin and other - 58760 non union, 58761 Union) Assurant Dental Plan (Florida - 6149) Alliance Laundry Systems LLC Group Long Term Disability Plan (Unum - 29197G) Alliance Laundry Systems LLC Group Life (Unum - 29197G) Alliance Laundry Systems LLC Accidental Death and Dismemberment Plan (Unum - GRS03024) Alliance Laundry Systems Travel Accident Insurance Plan (AIG – GTP8054608A) Alliance Laundry Systems Short-Term Disability Plan Alliance Laundry Systems LLC Group Medical Plan (Wausau – Wisconsin, Florida and all other Non-union) Alliance Laundry Systems LLC Group Medical Plan (Network Health – Wisconsin union) Alliance Laundry Systems LLC Educational Assistance Policy Vision Care (Florida – VS2116) Vision Insurance Plan of America (Non-Florida vision care) Supplemental Employee Benefit Plan Disclosure Alliance Laundry Holdings LLC Nonqualified Deferred Compensation Plan 2004 Management Bonus Plan The 2004 Management Bonus (aka Metric Plan) Plan is calculated on the attainment of credit agreement EBITDA based on the bank plan used for the August 2002 senior credit facility.
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