Advent Software 2007 Executive Short-Term Incentive Plan Summary
Advent Software has established a 2007 Executive Short-Term Incentive Plan for its President, CEO, and executive management team. The plan sets out cash bonus targets for each executive, ranging from $90,000 to $275,000, based on company bookings, revenue, operating profit, and individual performance during the 2007 fiscal year. Bonuses earned under the plan will be paid in the first quarter of 2008. The company may choose to renew the plan for future years.
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 Advents 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.