Management Incentive Compensation Plan
1. Objective. The objective of the STERIS Management Incentive Compensation Plan (the "Plan") is to
encourage greater initiative, resourcefulness, teamwork, efficiency, and achievement of objectives on the part of
key Associates whose performance and responsibilities directly affect Company profits.
2. Eligibility. Participation in the Plan will be limited to those key Associates that are selected for participation on
an annual basis and will normally include Associates at or above the rank of Manager in the various Corporate
Departments and in the Manufacturing Group as well as marketing and senior management Associates in the
Health Care Group and in the Scientific & Industrial Group.
A key Associate will be a participant in the Plan for a particular year only if he or she is selected by the
Compensation Committee of the Board of Directors or its designee (the "Committee") for participation in that
year. Key Associates selected for participation each year will be notified of their participation and given the
parameters for bonus calculations early in the fiscal year.
A participant will be entitled to receive a bonus earned under the Plan for a particular fiscal year if and only if he
or she remains in the employ of the Company through the end of that fiscal year and thereafter through the date
on which bonuses are paid for the fiscal year.
3. Target Bonus. Each participant will be assigned a dollar amount target bonus based upon his or her position
and level within the Company. The target bonus will range from 10% to 80% of the participant's base salary or
compensation range midpoint, as the Committee may determine.
4. Financial Goals. Each year the Committee will select a threshold net income target for the Company, the
attainment of which will be a prerequisite to the payment of any bonuses under the Plan. In addition, the
Committee will select one or more measures of current year financial performance for th