Summaryof Plan Terms for 2007 Executive Short-Term Incentive Plan
Exhibit 10.1
Summary of Plan Terms for 2007 Executive Short-Term Incentive Plan
The Advent Software 2007 Executive Short-Term Incentive Plan (“the Plan”) is designed to motivate and reward the Executive Team for short-term achievement of key bookings, revenue and operating profit milestones during the 2007 fiscal year. A summary of the terms follows:
· The Plan is applicable to the President and CEO and executive-level members of the Advent’s Executive Management Team (the “Executives”)
· The individual plans establish various target amounts, performance measures and goals of the cash bonuses awarded under the Plan for each Executive.
· Target amounts range from a total per individual of $90,000 to $275,000.
· Plan targets are based on bookings, recognized revenue, operating profit and individual executive performance relative to goals.
· The Plan is an annual plan and is effective for fiscal year 2007. any bonuses earned will be paid in the first quarter of 2008.
· The Plan may be renewed at the election of the Company for future periods.