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SEC Filings

10-K
KEY ENERGY SERVICES INC filed this Form 10-K on 02/28/2018
Entire Document
 

(1) Amounts reflect Mr. Dodson’s target bonus opportunity equal to 80% of base salary, actual performance as described above and the compensation committee’s exercise of negative discretion to cap Adjusted EBITDA earnings 100% and reduce Mr. Dodson’s actual bonus paid by 3%.

David Brunnert
Performance Metric
Base Salary
 
Performance Metric Weighting
 
Original Target Bonus Opportunity
 
Revised Target Bonus Opportunity
 
Maximum Bonus Opportunity
 
Actual Bonus Paid(1)
 
 
 
 
 
First Performance Period (weighted 12.5%)
Adjusted EBITDA
$
350,000

 
80
%
 
$
56,000

 
$
28,000

 
$
35,280

 
$
27,160

Safety
$
350,000

 
10
%
 
$
7,000

 
$
3,500

 
$
3,500

 
$
1,698

Free Cash Flow
$
350,000

 
10
%
 
$
7,000

 
$
3,500

 
$
3,500

 
$

Total Bonus - First Performance Period
 
 
 
$
70,000

 
$
35,000

 
$
42,280

 
$
28,858

Second Performance Period (weighted 12.5%)
Adjusted EBITDA
$
350,000

 
80
%
 
$
56,000

 
$
28,000

 
$
35,280

 
$
16,747

Safety
$
350,000

 
10
%
 
$
7,000

 
$
3,500

 
$
3,500

 
$

Free Cash Flow
$
350,000

 
10
%
 
$
7,000

 
$
3,500

 
$
3,500

 
$

Total Bonus - Second Performance Period
 
 
 
$
70,000

 
$
35,000

 
$
42,280

 
$
16,747

Third Performance Period (weighted 25%)
Adjusted EBITDA
$
350,000

 
80
%
 
$
56,000

 
$
56,000

 
$
70,560

 
$
54,320

Safety
$
350,000

 
10
%
 
$
7,000

 
$
7,000

 
$
7,000

 
$

Free Cash Flow
$
350,000

 
10
%
 
$
7,000

 
$
7,000

 
$
7,000

 
$

Total Bonus - Third Performance Period
 
 
 
$
70,000

 
$
70,000

 
$
84,560

 
$
54,320

Fourth Performance Period (weighted 25%)
Adjusted EBITDA
$
350,000

 
80
%
 
$
56,000

 
$
56,000

 
$
70,560

 
$
54,320

Safety
$
350,000

 
10
%
 
$
7,000

 
$
7,000

 
$
7,000

 
$

Free Cash Flow
$
350,000

 
10
%
 
$
7,000

 
$
7,000

 
$
7,000

 
$

Total Bonus - Fourth Performance Period
 
 
 
$
70,000

 
$
70,000

 
$
84,560

 
$
54,320

Total Bonus
 
 
 
 
 
$
280,000

 
$
210,000

 
$
253,680

 
$
154,245

(1) Amounts reflect Mr. Brunnert’s target bonus opportunity equal to 80% of base salary, actual performance as described above and the compensation committee’s exercise of negative discretion to cap Adjusted EBITDA earnings 100% and reduce Mr. Brunnert’s actual bonus paid by 3%.

Scott P. Miller
Performance Metric
Base Salary
 
Performance Metric Weighting
 
Original Target Bonus Opportunity
 
Revised Target Bonus Opportunity
 
Maximum Bonus Opportunity
 
Actual Bonus Paid(1)
 
 
 
 
 
First Performance Period (weighted 12.5%)
Adjusted EBITDA
$
275,000

 
80
%
 
$
44,000

 
$
22,000

 
$
27,720

 
$
21,340

Safety
$
275,000

 
10
%
 
$
5,500

 
$
2,750

 
$
2,750

 
$
1,334

Free Cash Flow
$
275,000

 
10
%
 
$
5,500

 
$
2,750

 
$
2,750

 
$

Total Bonus - First Performance Period
 
 
 
$
55,000

 
$
27,500

 
$
33,220

 
$
22,674

Second Performance Period (weighted 12.5%)
Adjusted EBITDA
$
275,000

 
80
%
 
$
44,000

 
$
22,000

 
$
27,720

 
$
13,158

Safety
$
275,000

 
10
%
 
$
5,500

 
$
2,750

 
$
2,750

 
$

Free Cash Flow
$
275,000

 
10
%
 
$
5,500

 
$
2,750

 
$
2,750

 
$

Total Bonus - Second Performance Period
 
 
 
$
55,000

 
$
27,500

 
$
33,220

 
$
13,158

Third Performance Period (weighted 25%)
Adjusted EBITDA
$
275,000

 
80
%
 
$
44,000

 
$
44,000

 
$
55,440

 
$
42,680

Safety
$
275,000

 
10
%
 
$
5,500

 
$
5,500

 
$
5,500

 
$

Free Cash Flow
$
275,000

 
10
%
 
$
5,500

 
$
5,500

 
$
5,500

 
$

Total Bonus - Third Performance Period
 
 
 
$
55,000

 
$
55,000

 
$
66,440

 
$
42,680

Fourth Performance Period (weighted 25%)
Adjusted EBITDA
$
275,000

 
80
%
 
$
44,000

 
$
44,000

 
$
55,440

 
$
42,680

Safety
$
275,000

 
10
%
 
$
5,500

 
$
5,500

 
$
5,500

 
$

Free Cash Flow
$
275,000

 
10
%
 
$
5,500

 
$
5,500

 
$
5,500

 
$

Total Bonus - Fourth Performance Period
 
 
 
$
55,000

 
$
55,000

 
$
66,440

 
$
42,680

Total Bonus
 
 
 
 
 
$
220,000

 
$
165,000

 
$
199,320

 
$
121,192


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